Ecolab Inc. (NYSE:ECL) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 318.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,027 shares of the basic materials company's stock after purchasing an additional 3,064 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Ecolab were worth $1,028,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in Ecolab during the second quarter valued at about $26,000. PSI Advisors LLC bought a new stake in shares of Ecolab in the 2nd quarter valued at about $27,000. Kings Path Partners LLC purchased a new position in shares of Ecolab in the 2nd quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of Ecolab during the 1st quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. purchased a new stake in Ecolab during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.91% of the company's stock.

Insider Activity

In related news, Director Victoria Reich sold 393 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $98,250.00. Following the sale, the director now directly owns 24,041 shares of the company's stock, valued at approximately $6,010,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Gregory B. Cook sold 3,811 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $249.33, for a total transaction of $950,196.63. Following the completion of the transaction, the executive vice president now directly owns 8,080 shares of the company's stock, valued at $2,014,586.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Victoria Reich sold 393 shares of Ecolab stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $98,250.00. Following the completion of the sale, the director now directly owns 24,041 shares in the company, valued at $6,010,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 478,355 shares of company stock valued at $117,922,965 in the last three months. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ECL. Citigroup raised Ecolab from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $267.00 to $265.00 in a research report on Wednesday, July 31st. Bank of America raised Ecolab from a "neutral" rating to a "buy" rating and upped their target price for the company from $251.00 to $272.00 in a research report on Wednesday, July 31st. Wells Fargo & Company reissued a "market perform" rating on shares of Ecolab in a report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Ecolab from $260.00 to $279.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Ecolab from $270.00 to $305.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $277.20.

Ecolab Stock Performance

NYSE:ECL traded up $3.75 during mid-day trading on Friday, hitting $250.04. The company's stock had a trading volume of 1,023,685 shares, compared to its average volume of 969,187. The business's fifty day moving average is $252.31 and its two-hundred day moving average is $242.73. The stock has a market cap of $70.80 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.30 and a quick ratio of 0.97. Ecolab Inc. has a 1 year low of $175.34 and a 1 year high of $262.61.

Ecolab (NYSE:ECL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.82 by $0.01. Ecolab had a return on equity of 22.12% and a net margin of 13.05%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company earned $1.54 earnings per share. Ecolab's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that Ecolab Inc. will post 6.66 EPS for the current fiscal year.

Ecolab Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.