QCI Asset Management Inc. NY Has $18.48 Million Holdings in Ecolab Inc. (ECL)

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QCI Asset Management Inc. NY raised its stake in shares of Ecolab Inc. (NYSE:ECL) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 117,853 shares of the basic materials company’s stock after acquiring an additional 962 shares during the period. Ecolab makes up 1.8% of QCI Asset Management Inc. NY’s investment portfolio, making the stock its 19th biggest holding. QCI Asset Management Inc. NY’s holdings in Ecolab were worth $18,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ECL. Principal Financial Group Inc. lifted its position in shares of Ecolab by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,368,074 shares of the basic materials company’s stock valued at $187,522,000 after acquiring an additional 45,993 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Ecolab by 17.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,691 shares of the basic materials company’s stock valued at $658,000 after acquiring an additional 700 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Ecolab by 15.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 41,967 shares of the basic materials company’s stock valued at $5,886,000 after acquiring an additional 5,710 shares during the period. Addenda Capital Inc. lifted its position in shares of Ecolab by 122.5% during the 2nd quarter. Addenda Capital Inc. now owns 9,242 shares of the basic materials company’s stock valued at $1,134,000 after acquiring an additional 5,089 shares during the period. Finally, Cohen Klingenstein LLC acquired a new position in shares of Ecolab during the 2nd quarter valued at $551,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on ECL shares. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Wednesday, October 10th. UBS Group boosted their target price on shares of Ecolab from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Canaccord Genuity set a $160.00 target price on shares of Ecolab and gave the company a “buy” rating in a research report on Tuesday, July 24th. BMO Capital Markets boosted their target price on shares of Ecolab from $151.00 to $159.00 and gave the company a “hold” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Ecolab from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 1st. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $154.47.

Shares of ECL stock opened at $159.33 on Friday. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 0.90. Ecolab Inc. has a 12 month low of $125.74 and a 12 month high of $160.61.

Ecolab (NYSE:ECL) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $1.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.53. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.74 billion. Ecolab had a net margin of 10.99% and a return on equity of 19.13%. Ecolab’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS. Analysts forecast that Ecolab Inc. will post 5.27 EPS for the current year.

In other Ecolab news, Chairman Douglas M. Baker, Jr. sold 40,025 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $160.20, for a total transaction of $6,412,005.00. Following the completion of the sale, the chairman now owns 558,017 shares in the company, valued at approximately $89,394,323.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur J. Higgins sold 8,700 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $149.76, for a total transaction of $1,302,912.00. Following the sale, the director now owns 21,363 shares of the company’s stock, valued at approximately $3,199,322.88. The disclosure for this sale can be found here. Insiders have sold a total of 112,110 shares of company stock valued at $17,473,320 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

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About Ecolab

Ecolab Inc provides water, hygiene, and energy technologies and services for customers worldwide. The company operates through Global Industrial, Global Institutional, and Global Energy segments. The Global Industrial segment provides water treatment and process applications, and cleaning and sanitizing solutions primarily to large industrial customers within the manufacturing, food and beverage processing, chemical, mining and primary metals, power generation, pulp and paper, and commercial laundry industries.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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