OVERSEA CHINESE BANKING Corp Ltd Sells 24,514 Shares of Ecolab Inc. (NYSE:ECL)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,879 shares of the basic materials company's stock after selling 24,514 shares during the quarter. Ecolab makes up approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 25th largest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Ecolab were worth $35,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new position in Ecolab during the 2nd quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in Ecolab during the 2nd quarter worth approximately $27,000. Kings Path Partners LLC purchased a new stake in Ecolab during the 2nd quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in Ecolab during the 1st quarter worth approximately $31,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Ecolab during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 74.91% of the company's stock.

Ecolab Stock Performance

ECL stock traded down $1.91 during trading on Tuesday, reaching $248.65. 240,025 shares of the company's stock were exchanged, compared to its average volume of 1,082,732. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 0.81. Ecolab Inc. has a 1-year low of $177.16 and a 1-year high of $262.61. The company's fifty day moving average price is $252.26 and its 200-day moving average price is $243.27. The firm has a market cap of $70.41 billion, a PE ratio of 35.14, a P/E/G ratio of 2.49 and a beta of 1.13.

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

Insider Activity

In other news, Director Victoria Reich sold 393 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the sale, the director now owns 24,041 shares in the company, valued at $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 through this link. In related news, EVP Gregory B. Cook sold 3,811 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 8,080 shares of the company's stock, valued at approximately $2,014,586.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria Reich sold 393 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the transaction, the director now directly owns 24,041 shares in the company, valued at $6,010,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 478,355 shares of company stock worth $117,922,965 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ECL has been the topic of several analyst reports. UBS Group downgraded Ecolab from a "buy" rating to a "neutral" rating and set a $276.00 price objective on the stock. in a report on Monday, November 4th. BMO Capital Markets lifted their price objective on Ecolab from $260.00 to $279.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Ecolab from $240.00 to $263.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Jefferies Financial Group upgraded Ecolab from a "hold" rating to a "buy" rating and boosted their price target for the company from $235.00 to $310.00 in a report on Friday, October 18th. Finally, Citigroup upgraded Ecolab from a "neutral" rating to a "buy" rating and lowered their price target for the company from $267.00 to $265.00 in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Ecolab presently has an average rating of "Moderate Buy" and an average target price of $277.20.

About Ecolab

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.