J. Safra Sarasin Holding 13F: Cuts Ecolab (ECL) Stake by $20M
Key Points
- J. Safra Sarasin's reduction of 74,538 shares in Ecolab Inc. represents a 48.4% decrease in its position, now valued at about $21.7 million.
- J. Safra Sarasin Holding held 79,480 $ECL shares at quarter end, down 48.40% from the prior quarter.
- Ecolab shares recently traded around $289.38, slightly above the $288.53 close on October 23, 2026.
- The firm holds a 0.91% stake in Ecolab, ranking 29th among its 800 reported positions.
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J. Safra Sarasin Holding cut its stake in Ecolab Inc. (NYSE: ECL) by 74,538 shares in a filing on October 26, 2026.
ECL
Ecolab Inc.
Where Ecolab Fits in J. Safra Sarasin's Portfolio
J. Safra Sarasin's holdings in Ecolab now make up 0.91% of its total reported value of approximately $2.37 billion. The cut represents a significant 48.4% decrease in its position, reflecting a change in strategy or market conditions.
Other Institutional Activity in Ecolab
The Gates Foundation Trust holds 5,218,044 shares of Ecolab, worth about $1.51 billion. Royal Bank of Canada increased its stake by 114,700 shares, bringing its total to 3,611,647 shares valued at around $1.04 billion.
Ecolab Inc. Stock Down 1.0%
Ecolab shares recently traded around $289.38, which is slightly above the $288.53 closing price on October 23, 2026. The stock has shown resilience, trading near its recent highs.
Recent Earnings
Ecolab reported trailing twelve-month revenue of about $16.84 billion, with a net margin of 12.6%. The company is set to announce its next earnings on October 27, 2026.
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, translating to a dividend yield of approximately 1.01% based on current prices.
Insider Buying and Selling at Ecolab Inc.
Several insiders sold shares earlier this year. Chief Financial Officer Scott D. Kirkland sold 3,357 shares at an average price of $276.96 on July 30, 2026, totaling about $929,755. CEO Christophe Beck also sold 17,862 shares at $280.14 on August 18, 2026, worth approximately $5 million.
Analysts Set New Price Targets
On October 5, 2026, UBS maintained a "Buy" rating on Ecolab with a price target of $344. Earlier, on July 29, Mizuho and BMO Capital both maintained "Outperform" ratings with targets of $327 and $360, respectively. The consensus among analysts suggests a positive outlook for Ecolab, with a mean price target reflecting the potential for growth.
About Ecolab
Ecolab Inc. provides essential services related to water, hygiene, and infection prevention across various sectors worldwide. With a strong focus on sustainability, it operates through segments that address global challenges in water and health.
Bottom Line
Investors should keep an eye on Ecolab's upcoming earnings report on October 27, 2026, and watch for further institutional moves as market conditions evolve. J. Safra Sarasin's recent position cut may signal shifts in its investment strategy, highlighting the changing landscape for Ecolab.
Related Filing Alerts
Source: J. Safra Sarasin Holding'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