Ecolab (NYSE:ECL) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Ecolab (NYSE:ECL) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other research analysts also recently commented on ECL. UBS Group downgraded shares of Ecolab from a “buy” rating to a “neutral” rating and set a $276.00 price target on the stock. in a research note on Monday, November 4th. BMO Capital Markets upgraded shares of Ecolab from a “market perform” rating to an “outperform” rating and upped their price target for the company from $279.00 to $290.00 in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $306.00 price objective on shares of Ecolab in a report on Wednesday, October 30th. Robert W. Baird increased their target price on Ecolab from $271.00 to $279.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price target on Ecolab from $270.00 to $305.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.60.

Ecolab Price Performance

Shares of NYSE:ECL opened at $240.74 on Wednesday. The company’s fifty day moving average price is $248.42 and its 200-day moving average price is $246.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.30 and a quick ratio of 0.97. The firm has a market capitalization of $68.17 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.45 and a beta of 1.13. Ecolab has a one year low of $193.46 and a one year high of $262.61.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.01. Ecolab had a return on equity of 22.12% and a net margin of 13.05%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Ecolab will post 6.65 earnings per share for the current fiscal year.

Ecolab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th will be given a $0.65 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $2.60 annualized dividend and a dividend yield of 1.08%. This is a positive change from Ecolab’s previous quarterly dividend of $0.57. Ecolab’s dividend payout ratio is currently 36.47%.

Insider Activity

In related news, major shareholder William H. Gates III sold 100,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $248.06, for a total value of $24,806,000.00. Following the completion of the transaction, the insider now directly owns 29,718,741 shares in the company, valued at $7,372,030,892.46. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 834,566 shares of company stock worth $205,225,417 in the last quarter. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ecolab

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Ecolab by 5.9% in the third quarter. Principal Financial Group Inc. now owns 301,591 shares of the basic materials company’s stock worth $77,005,000 after acquiring an additional 16,747 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Ecolab by 9.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,241 shares of the basic materials company’s stock worth $1,330,000 after purchasing an additional 440 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Ecolab in the 3rd quarter worth about $1,947,000. Peapack Gladstone Financial Corp grew its position in Ecolab by 0.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 56,276 shares of the basic materials company’s stock valued at $14,368,000 after purchasing an additional 346 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Ecolab by 797.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 17,820 shares of the basic materials company’s stock worth $4,550,000 after buying an additional 15,834 shares during the last quarter. Institutional investors own 74.91% of the company’s stock.

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.