Crossmark Global Holdings Inc. Sells 17,304 Shares of Ecolab Inc. (NYSE:ECL)

Crossmark Global Holdings Inc. cut its holdings in Ecolab Inc. (NYSE:ECL) by 42.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,333 shares of the basic materials company’s stock after selling 17,304 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ecolab were worth $1,512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ECL. Vanguard Group Inc. grew its stake in shares of Ecolab by 0.9% during the second quarter. Vanguard Group Inc. now owns 21,500,662 shares of the basic materials company’s stock valued at $4,428,492,000 after buying an additional 201,746 shares during the last quarter. State Street Corp boosted its holdings in Ecolab by 5.3% during the 2nd quarter. State Street Corp now owns 11,743,497 shares of the basic materials company’s stock valued at $2,424,409,000 after acquiring an additional 587,269 shares during the period. Royal Bank of Canada grew its position in Ecolab by 6.4% during the 2nd quarter. Royal Bank of Canada now owns 4,876,486 shares of the basic materials company’s stock worth $1,004,410,000 after acquiring an additional 292,806 shares during the last quarter. Geode Capital Management LLC increased its stake in Ecolab by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,285,775 shares of the basic materials company’s stock worth $880,197,000 after purchasing an additional 68,539 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Ecolab by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 4,253,362 shares of the basic materials company’s stock valued at $876,067,000 after purchasing an additional 208,799 shares during the last quarter. Institutional investors and hedge funds own 72.19% of the company’s stock.

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ecolab from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, October 27th. Royal Bank of Canada assumed coverage on shares of Ecolab in a research report on Thursday, September 2nd. They issued an “outperform” rating and a $260.00 price objective on the stock. BMO Capital Markets increased their target price on shares of Ecolab from $223.00 to $246.00 and gave the stock a “market perform” rating in a report on Wednesday, October 27th. They noted that the move was a valuation call. Vertical Research initiated coverage on Ecolab in a research note on Monday, September 27th. They issued a “hold” rating and a $189.00 target price on the stock. Finally, Mizuho initiated coverage on Ecolab in a research report on Tuesday, October 12th. They set a “neutral” rating and a $126.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $227.91.

In related news, EVP Timothy P. Mulhere sold 17,913 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $237.48, for a total transaction of $4,253,979.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Douglas M. Baker, Jr. sold 173,036 shares of the stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $223.54, for a total value of $38,680,467.44. Following the completion of the sale, the chairman now directly owns 796,963 shares in the company, valued at $178,153,109.02. The disclosure for this sale can be found here. Insiders sold a total of 225,744 shares of company stock worth $50,957,656 over the last ninety days. Insiders own 1.05% of the company’s stock.

ECL stock opened at $231.35 on Thursday. Ecolab Inc. has a fifty-two week low of $201.15 and a fifty-two week high of $238.93. The company has a market capitalization of $66.30 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The business’s 50 day moving average price is $222.97 and its two-hundred day moving average price is $219.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.25 and a current ratio of 1.72.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 26th. The basic materials company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.08. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.26 billion. Ecolab had a return on equity of 20.45% and a net margin of 9.08%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. Sell-side analysts forecast that Ecolab Inc. will post 4.88 earnings per share for the current year.

Ecolab Company Profile

Ecolab, Inc engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional & Specialty, Global Energy & Life Science, and Other. The Global Industrial segment consists of the water, food and beverage, paper, and downstream operating segments.

Featured Article: What are some reasons analysts would give stocks a buy rating?

Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL).

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

Receive News & Ratings for Ecolab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab and related companies with MarketBeat.com's FREE daily email newsletter.