Groupama Asset Management has decreased its stake in Ecolab Inc. (NYSE:ECL) by 6.3% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the institutional investor sold 2,117 shares, bringing its total holdings to 31,404 shares. As of the latest filing, these shares were valued at approximately $8.4 million.
Several other institutional investors have also adjusted their positions in Ecolab. The Saudi Central Bank acquired a new stake in the company worth about $25,000 in the first quarter. In the second quarter, Financial Connections Group Inc. bought a new stake valued at around $26,000. J.Safra Asset Management Corp significantly increased its stake by 202.6%, now holding 115 shares worth $31,000. Similarly, Vermillion & White Wealth Management Group LLC raised its holdings by 81.5%, owning 118 shares valued at $32,000. Another new position was taken by Salomon & Ludwin LLC, which invested approximately $41,000 during the same period. Overall, institutional investors hold 74.91% of Ecolab’s stock.
Analyst Ratings and Price Targets
Research reports on Ecolab have produced varied ratings. Weiss Ratings reaffirmed a “buy” rating on October 8, 2023. On October 14, Erste Group Bank initiated coverage with a “buy” rating. UBS Group recently reduced its target price from $299.00 to $291.00 while maintaining a “neutral” rating. Mizuho set a price target of $315.00, and Citigroup lowered its target from $325.00 to $323.00, also assigning a “buy” rating. Currently, three analysts rate Ecolab as a Strong Buy, thirteen as Buy, and five as Hold. The stock holds an average rating of “Moderate Buy” with a consensus target price of $295.14, according to data from MarketBeat.com.
Insider Transactions
In other developments, Ecolab’s CEO, Christophe Beck, sold 21,714 shares on November 12, 2023, at an average price of $261.41, totaling approximately $5.68 million. Following this transaction, Beck’s ownership decreased by 23.01% to 72,644 shares, valued at around $19.0 million. Executive Vice President Boo Alexander A. De also sold 1,422 shares on November 24, 2023, for $381,451.50, representing a 19.89% reduction in his holdings. Corporate insiders currently own 0.04% of Ecolab’s stock.
Ecolab shares opened at $275.03 on the last trading day, reflecting a 0.6% increase. The company has a market capitalization of $77.90 billion, a P/E ratio of 39.52, and a current ratio of 1.70. Over the past year, the stock has fluctuated between a low of $221.62 and a high of $286.04.
Ecolab released its quarterly earnings results on October 28, 2023, reporting earnings per share (EPS) of $2.07, matching analysts’ expectations. The company achieved a net margin of 12.49% and a return on equity of 22.55%. Revenues for the quarter reached $4.17 billion, exceeding forecasts of $4.12 billion. Compared to the same quarter in the previous year, Ecolab’s revenue rose by 4.2%. For the upcoming fourth quarter of 2025, Ecolab has set EPS guidance between $2.020 and $2.120, with a full-year EPS guidance of $7.480 to $7.580. Analysts predict an EPS of $7.54 for the current year.
Ecolab Inc. specializes in providing water, hygiene, and infection prevention solutions worldwide, operating across three main segments: Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences.
