Instinet reiterated their neutral rating on shares of Ecolab Inc. (NYSE:ECL) in a report published on Tuesday. Instinet currently has a $117.00 price target on the basic materials company’s stock, down from their previous price target of $120.00.
A number of other equities research analysts have also issued reports on the stock. Nomura restated a hold rating and set a $117.00 price target (down previously from $120.00) on shares of Ecolab in a report on Tuesday. Royal Bank Of Canada boosted their price target on shares of Ecolab from $134.00 to $137.00 and gave the company an outperform rating in a report on Tuesday. Canaccord Genuity restated a buy rating and set a $145.00 price target on shares of Ecolab in a report on Monday, September 11th. Credit Suisse Group reiterated a hold rating on shares of Ecolab in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded shares of Ecolab from a strong sell rating to a sell rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Ecolab currently has an average rating of Hold and a consensus target price of $133.93.
Ecolab (NYSE:ECL) opened at 131.05 on Tuesday. The firm has a 50 day moving average of $131.31 and a 200-day moving average of $129.38. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 29.96 and a beta of 0.99. Ecolab has a one year low of $110.65 and a one year high of $134.89.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Ecolab will post $4.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, September 18th. Ecolab’s dividend payout ratio is 33.79%.
In other Ecolab news, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder William H. Gates III bought 75,500 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $132.57 per share, with a total value of $10,009,035.00. The disclosure for this purchase can be found here. Insiders own 1.49% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. TCI Wealth Advisors Inc. grew its position in Ecolab by 4.8% in the second quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 35 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Ecolab by 60.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 300 shares in the last quarter. Atlantic Trust LLC bought a new stake in Ecolab in the second quarter worth approximately $106,000. IHT Wealth Management LLC grew its position in Ecolab by 4.9% in the second quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 38 shares in the last quarter. Finally, JNBA Financial Advisors grew its position in Ecolab by 2.5% in the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 21 shares in the last quarter. 75.54% of the stock is owned by institutional investors.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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