Cobiz Investment Management Lowers stake in Ecolab (ECL)

Ecolab (ECL) : Cobiz Investment Management reduced its stake in Ecolab by 1.02% during the most recent quarter end. The investment management company now holds a total of 50,295 shares of Ecolab which is valued at $5,988,626 after selling 516 shares in Ecolab , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Ecolab makes up approximately 1.45% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Headinvest boosted its stake in ECL in the latest quarter, The investment management firm added 3,760 additional shares and now holds a total of 28,210 shares of Ecolab which is valued at $3,358,965. Ecolab makes up approx 1.19% of Headinvest’s portfolio.Arvest Bank Trust Division reduced its stake in ECL by selling 455 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 65,718 shares of ECL which is valued at $7,821,756. Ecolab makes up approx 0.66% of Arvest Bank Trust Division’s portfolio.Independent Portfolio Consultants boosted its stake in ECL in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 6,164 shares of Ecolab which is valued at $739,742. Ecolab makes up approx 0.23% of Independent Portfolio Consultants’s portfolio.Lenox Wealth Advisors boosted its stake in ECL in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 185 shares of Ecolab which is valued at $22,202. Ecolab makes up approx 0.01% of Lenox Wealth Advisors’s portfolio.Washington Trust Bank boosted its stake in ECL in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 1,662 shares of Ecolab which is valued at $199,457. Ecolab makes up approx 0.05% of Washington Trust Bank’s portfolio.

Ecolab closed down -1.91 points or -1.60% at $117.16 with 8,64,305 shares getting traded on Tuesday. Post opening the session at $118.48, the shares hit an intraday low of $116.5 and an intraday high of $119.135 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Macquarie Initiated Ecolab on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $143.Company shares were Reiterated by Nomura on Aug 22, 2016 to “Reduce”, Firm has raised the Price Target to $ 98 from a previous price target of $94 .Ecolab was Upgraded by Citigroup to ” Buy” on Aug 3, 2016.

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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