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

Ecolab Inc. (NYSE:ECL)’s stock price reached a new 52-week high during trading 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. The stock had previously closed at $263.81.

A number of other equities analysts have also weighed in on ECL. Morgan Stanley upgraded Ecolab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $263.00 to $280.00 in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their target price on shares of Ecolab from $306.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Ecolab from $228.00 to $255.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com upgraded Ecolab from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on Ecolab from $295.00 to $313.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $287.00.

Insider Activity

In related news, Director David Maclennan purchased 400 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $264.51 per share, for a total transaction of $105,804.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Machiel Duijser sold 5,721 shares of Ecolab stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $264.04, for a total value of $1,510,572.84. Following the completion of the transaction, the executive vice president now owns 3,774 shares of the company’s stock, valued at $996,486.96. The trade was a 60.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Ecolab

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in Ecolab by 134.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 108 shares of the basic materials company’s stock valued at $25,000 after buying an additional 62 shares in the last quarter. Coastline Trust Co purchased a new position in Ecolab in the third quarter valued at approximately $26,000. Graney & King LLC acquired a new stake in Ecolab during the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new stake in shares of Ecolab during the 4th quarter worth approximately $28,000. Finally, Navigoe LLC purchased a new position in shares of Ecolab in the 4th quarter valued at $31,000. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Ecolab Price Performance

The stock has a market capitalization of $75.71 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.57 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $245.04 and its 200 day moving average is $247.97.

Ecolab (NYSE:ECL) last posted its earnings results on Tuesday, February 11th. The basic materials company reported $1.81 earnings per share for the quarter, meeting the consensus estimate of $1.81. Ecolab had a return on equity of 22.50% and a net margin of 13.42%. Research analysts anticipate that Ecolab Inc. will post 7.54 EPS for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.97%. Ecolab’s payout ratio is 35.23%.

About Ecolab

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.