Ecolab (ECL, Financial) has taken market share from smaller companies that weren't prepared for the pandemic, thanks in large part to its powerful digital ordering system. But in the third quarter, it gave up some of its strong second-quarter performance. Investors are concerned about when and how quickly the company's crucial restaurant and hotel end markets will come back.
From Mairs and Power (Trades, Portfolio) Growth Fund's third-quarter 2020 shareholder letter.
Also check out:
