CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Adds $2.7M to ECL Stake
Key Points
- Cushing Asset Management's position in Ecolab grew by 10,000 shares, a 100% increase, bringing its total holding to 20,000 shares worth about $5.5 million.
- Ecolab's stock recently traded around $289.38, slightly above its closing price of $288.53 on October 23, 2026.
- The firm now holds 0.39% of its total reported value of about $1.42 billion in Ecolab, ranking 41st among its 73 positions.
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Cushing Asset Management, LP, also known as NXG Investment Management, boosted its stake in Ecolab Inc. (NYSE: ECL) by 10,000 shares, bringing its total to 20,000 shares. This increase was disclosed in a filing on October 26, 2026, with a reported value of approximately $5.5 million.
ECL
Ecolab Inc.
What Changed in Cushing Asset Management's Ecolab Position
Cushing Asset Management increased its holdings in Ecolab by 10,000 shares, reflecting a 100% increase from its previous total of 10,000 shares. The change adds about $2.75 million to the fund's investment in Ecolab, which now represents 0.39% of its total reported value of around $1.42 billion.
Other Institutional Activity in Ecolab
On the same day, J. Safra Sarasin Holding reduced its stake in Ecolab by 74,538 shares to a total of 79,480 shares. Meanwhile, Gates Foundation Trust held steady at 5,218,044 shares, and Royal Bank of Canada added 114,700 shares, bringing its total to 3,611,647 shares.
Ecolab Inc. Stock Down 1.0%
Ecolab's stock recently traded around $289.38 as of October 27, 2026, which is slightly above its closing price of $288.53 on October 23, 2026. This positioning suggests that the stock remains relatively stable in the current market.
Recent Earnings
Ecolab reported trailing twelve-month revenue of approximately $16.84 billion, with an earnings per share (EPS) of $7.35. The company is set to announce its next earnings on October 27, 2026, which could provide further insights into its financial health.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 target cuts vs 1 raises.
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EPS & revenue
EPS missed estimates by 0.7%. Revenue met estimates.
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Profit surprise
EBITDA missed by 39 percent. Operating income missed by 9 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 1 target raise, 3 target cuts.
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Earnings quality
Gross margin down 0.8 points. Operating margin down 0.6 points. Positive free cash flow.
Earnings Call Summary
The company delivered strong first quarter results with 4 percent organic sales growth and 13 percent adjusted EPS growth, beating expectations. Management highlighted accelerating momentum in growth engines, particularly Global High Tech growing over 20 percent and Life Sciences accelerating to 11 percent growth. To address high single digit commodity inflation tied to Middle East energy costs, management implemented an energy surcharge starting April 1, which it expects to fully offset costs by late second quarter.
Guidance Ecolab reaffirmed full year earnings growth of 12 to 15 percent, excluding the CoolIT acquisition impact. Second quarter will be a transition quarter with high single digit commodity cost increases, but the company expects to fully offset those costs by the end of the second quarter through pricing and volume growth. The company expects second half organic sales growth of 6 to 7 percent.
Very weak report. The release materially worsened the forward outlook.
Dividend
Ecolab pays an annual dividend of $2.92 per share, with a payout ratio of 38.1%.
Insider Buying and Selling at Ecolab Inc.
Several insiders have sold shares, including Chief Financial Officer Scott D. Kirkland, who sold 3,357 shares on July 30, 2026, for about $929,755. CEO Christophe Beck also sold 17,862 shares on August 18, 2026, valued at $5,003,825. However, Director Eric Mark Green bought 3,690 shares on September 11, 2026, for a total of around $1,020,798.
Analysts Set New Price Targets
On July 29, 2026, Mizuho and BMO Capital both maintained their ratings of 'Outperform' for Ecolab, with price targets of $327.00 and $360.00, respectively. UBS also maintained a 'Buy' rating with a target of $344.00 on October 5, 2026.
About Ecolab
Ecolab Inc. provides solutions and services for water, hygiene, and infection prevention globally. The company operates through segments like Global Water and Global Life Sciences, catering to a diverse range of industries.
Bottom Line
Cushing Asset Management's increased position in Ecolab could signal confidence in the company's future performance. Investors should watch for Ecolab's upcoming earnings report on October 27, 2026, for further insights into its financial health.
Related Filing Alerts
Source: CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's 13F filing on $ECL (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts