Pictet Asset Management Holding SA Acquires 206,562 Shares of Ecolab Inc. $ECL

Pictet Asset Management Holding SA increased its stake in Ecolab Inc. (NYSE:ECL) by 8.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,708,147 shares of the basic materials company’s stock after acquiring an additional 206,562 shares during the quarter. Ecolab comprises approximately 0.7% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 25th biggest position. Pictet Asset Management Holding SA’s holdings in Ecolab were worth $743,726,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ECL. Findlay Park Partners LLP purchased a new stake in shares of Ecolab during the second quarter worth about $115,674,000. Cornerstone Advisors LLC purchased a new position in Ecolab in the 2nd quarter valued at about $16,698,000. Saudi Central Bank boosted its holdings in Ecolab by 89.1% in the 2nd quarter. Saudi Central Bank now owns 17,793 shares of the basic materials company’s stock worth $4,957,000 after buying an additional 8,384 shares during the last quarter. Nykredit A S purchased a new stake in Ecolab during the 2nd quarter worth approximately $31,932,000. Finally, Moore Capital Management LP purchased a new stake in Ecolab during the 2nd quarter worth approximately $7,298,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Ecolab Stock Down 1.6%

Shares of NYSE ECL opened at $300.82 on Friday. Ecolab Inc. has a 12-month low of $243.15 and a 12-month high of $318.93. The stock has a market cap of $84.37 billion, a PE ratio of 40.93, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average of $284.00 and a 200 day moving average of $276.93.

Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, October 27th. The basic materials company reported $2.18 EPS for the quarter, meeting analysts’ consensus estimates of $2.18. Ecolab had a net margin of 11.99% and a return on equity of 22.57%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. Ecolab’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Ecolab Inc. will post 8.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ECL shares. Berenberg Bank increased their target price on Ecolab from $299.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Oppenheimer raised Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a research note on Friday, July 17th. UBS Group boosted their price target on Ecolab from $344.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Mizuho increased their price objective on Ecolab from $325.00 to $327.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on Ecolab from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.58.

Insider Activity

In related news, CEO Christophe Beck sold 17,862 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total value of $5,003,860.68. Following the completion of the sale, the chief executive officer owned 72,932 shares of the company’s stock, valued at approximately $20,431,170.48. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

About Ecolab

Ecolab Inc provides water, hygiene, cleaning and infection-prevention products and services to businesses and institutions. Its solutions help customers manage water use, maintain sanitary environments and support operational efficiency.

The company serves a range of industries, including food and beverage, foodservice, hospitality, healthcare, life sciences and manufacturing. Its offerings include cleaning and sanitizing products, water-treatment programs, pest-elimination services, and related monitoring and consulting support.

Founded in 1923 as Economics Laboratory, Ecolab has grown into a global company serving customers in many countries.