Ecolab (NYSE:ECL) Reaches New 12-Month High After Analyst Upgrade

Ecolab Inc. (NYSE:ECL) reached a new 52-week high on Tuesday after Piper Sandler raised their price target on the stock from $270.00 to $310.00. Piper Sandler currently has an overweight rating on the stock. Ecolab traded as high as $268.16 and last traded at $267.62, with a volume of 490684 shares changing hands. The stock had previously closed at $263.81.

ECL has been the subject of several other research reports. Citigroup increased their price target on Ecolab from $290.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada lowered their price target on Ecolab from $306.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. BMO Capital Markets upgraded Ecolab from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $279.00 to $290.00 in a research report on Tuesday, December 17th. Argus upgraded Ecolab to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on Ecolab from $228.00 to $255.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ecolab has a consensus rating of “Moderate Buy” and a consensus price target of $287.00.

Insider Transactions at Ecolab

In related news, EVP Machiel Duijser sold 5,721 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $264.04, for a total value of $1,510,572.84. Following the transaction, the executive vice president now owns 3,774 shares in the company, valued at $996,486.96. The trade was a 60.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Maclennan purchased 400 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $264.51 per share, for a total transaction of $105,804.00. Following the transaction, the director now directly owns 18,767 shares in the company, valued at $4,964,059.17. This trade represents a 2.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Ecolab

Several institutional investors have recently added to or reduced their stakes in ECL. Vanguard Group Inc. boosted its stake in shares of Ecolab by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 24,149,744 shares of the basic materials company’s stock worth $5,658,768,000 after acquiring an additional 105,289 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ecolab by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 5,273,277 shares of the basic materials company’s stock valued at $1,231,873,000 after buying an additional 91,475 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Ecolab by 8.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,995,817 shares of the basic materials company’s stock valued at $936,300,000 after acquiring an additional 304,478 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ecolab by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,842,114 shares of the basic materials company’s stock valued at $981,007,000 after acquiring an additional 35,027 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Ecolab by 6.0% in the 4th quarter. Royal Bank of Canada now owns 3,549,610 shares of the basic materials company’s stock valued at $831,744,000 after acquiring an additional 200,612 shares during the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.

Ecolab Trading Up 0.7 %

The firm has a market capitalization of $75.22 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 2.57 and a beta of 1.14. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.95 and a current ratio of 1.26. The business has a fifty day moving average price of $245.43 and a 200 day moving average price of $248.16.

Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.81 EPS for the quarter, hitting analysts’ consensus estimates of $1.81. Ecolab had a return on equity of 22.50% and a net margin of 13.42%. As a group, equities analysts forecast that Ecolab Inc. will post 7.54 earnings per share for the current year.

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.60 annualized dividend and a yield of 0.98%. Ecolab’s dividend payout ratio is currently 35.23%.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.