Drive Wealth Management LLC Acquires New Position in Ecolab Inc. (NYSE:ECL)

Drive Wealth Management LLC acquired a new stake in shares of Ecolab Inc. (NYSE:ECLFree Report) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,062 shares of the basic materials company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Ecolab in the fourth quarter worth approximately $35,040,000. Prio Wealth Limited Partnership grew its position in Ecolab by 526.2% in the fourth quarter. Prio Wealth Limited Partnership now owns 56,959 shares of the basic materials company’s stock worth $11,298,000 after acquiring an additional 47,863 shares in the last quarter. Vest Financial LLC grew its position in Ecolab by 39.6% in the fourth quarter. Vest Financial LLC now owns 167,017 shares of the basic materials company’s stock worth $33,128,000 after acquiring an additional 47,351 shares in the last quarter. First PREMIER Bank bought a new stake in Ecolab in the fourth quarter worth approximately $2,836,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Ecolab by 2.7% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 189,675 shares of the basic materials company’s stock worth $32,131,000 after acquiring an additional 5,015 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ECL has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Ecolab from $184.00 to $232.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $238.00 target price on shares of Ecolab in a research report on Wednesday, February 14th. BMO Capital Markets boosted their price objective on shares of Ecolab from $212.00 to $227.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Morgan Stanley boosted their price objective on shares of Ecolab from $230.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Mizuho boosted their price objective on shares of Ecolab from $210.00 to $216.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.19.

Check Out Our Latest Analysis on Ecolab

Ecolab Price Performance

NYSE:ECL opened at $227.49 on Wednesday. The stock has a market cap of $65.04 billion, a P/E ratio of 47.49, a PEG ratio of 2.66 and a beta of 1.10. Ecolab Inc. has a one year low of $156.72 and a one year high of $231.86. The company has a fifty day moving average price of $216.80 and a 200 day moving average price of $194.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.30 and a quick ratio of 0.95.

Ecolab (NYSE:ECLGet Free Report) last released its earnings results on Tuesday, February 13th. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Ecolab had a net margin of 8.96% and a return on equity of 19.36%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. Analysts anticipate that Ecolab Inc. will post 6.43 earnings per share for the current year.

Ecolab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, March 18th. Ecolab’s dividend payout ratio (DPR) is presently 47.60%.

Ecolab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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