Cobiz Investment Management Lowers stake in Ecolab (ECL)

Ecolab (ECL) : Cobiz Investment Management reduced its stake in Ecolab by 4.98% during the most recent quarter end. The investment management company now holds a total of 50,811 shares of Ecolab which is valued at $6,168,964 after selling 2,661 shares in Ecolab , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Ecolab makes up approximately 1.51% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Gillespie Robinson Grimm Inc boosted its stake in ECL in the latest quarter, The investment management firm added 1,090 additional shares and now holds a total of 197,779 shares of Ecolab which is valued at $23,844,236. Ecolab makes up approx 3.71% of Gillespie Robinson Grimm Inc’s portfolio.Webster Bank N. A. reduced its stake in ECL by selling 480 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 26,491 shares of ECL which is valued at $3,193,755. Ecolab makes up approx 0.46% of Webster Bank N. A.’s portfolio.Stock Yards Bank Trust Co reduced its stake in ECL by selling 5,366 shares or 35.5% in the most recent quarter. The Hedge Fund company now holds 9,749 shares of ECL which is valued at $1,146,385. Ecolab makes up approx 0.15% of Stock Yards Bank Trust Co’s portfolio.

Ecolab opened for trading at $121.69 and hit $122.66 on the upside on Thursday, eventually ending the session at $122.23, with a gain of 0.68% or 0.82 points. The heightened volatility saw the trading volume jump to 10,15,802 shares. Company has a market cap of $35,851 M.

On the company’s financial health, Ecolab reported $1.08 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $1.08. The company had revenue of $3317.00 million for the quarter, compared to analysts expectations of $3326.45 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on Ecolab. Ecolab was Upgraded by Citigroup to ” Buy” on Aug 3, 2016. Ecolab was Downgraded by Stifel to ” Hold” on Aug 3, 2016. Company shares were Reiterated by Canaccord Genuity on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 135 from a previous price target of $126 .

Ecolab Inc. provides water hygiene and energy technologies and services. The Company operating segments include Global Industrial Global Institutional Global Energy and Other. The Company’s Global Industrial segment consists of the Water Food and Beverage Paper and Textile Care operating units. Global Institutional segment consists of the Institutional Specialty and Healthcare operating units. The Global Energy segment provides on-site technology-driven solutions to the global drilling oil and gas production refining and petrochemical industries. Other segment consists of the pest elimination and equipment care operating units. The Company’s cleaning and sanitizing programs and products pest elimination services and equipment maintenance and repair services support customers in the foodservice food and beverage processing hospitality healthcare Government and education retail textile care and commercial facilities management sectors in over 170 countries.

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