Ecolab (NYSE:ECL) PT Raised to $243.00

Ecolab (NYSE:ECL) had its target price boosted by Robert W. Baird from $232.00 to $243.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Several other brokerages also recently weighed in on ECL. Morgan Stanley lifted their price target on shares of Ecolab from $230.00 to $240.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. lowered Ecolab from an overweight rating to a neutral rating and increased their price target for the stock from $200.00 to $220.00 in a research note on Wednesday, February 14th. Barclays upgraded Ecolab from an equal weight rating to an overweight rating and boosted their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, February 28th. Mizuho upgraded Ecolab from a neutral rating to a buy rating and increased their target price for the stock from $216.00 to $260.00 in a research report on Friday, April 12th. Finally, Bank of America raised Ecolab from an underperform rating to a neutral rating and boosted their price target for the stock from $185.00 to $216.00 in a report on Tuesday, January 16th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ecolab currently has an average rating of Hold and an average price target of $236.88.

Ecolab Stock Performance

Shares of NYSE ECL opened at $227.49 on Wednesday. Ecolab has a 12-month low of $156.72 and a 12-month high of $231.86. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $224.51 and a 200 day moving average of $202.54.

Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.74 billion. Ecolab had a net margin of 10.01% and a return on equity of 20.56%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, research analysts anticipate that Ecolab will post 6.55 earnings per share for the current year.

Ecolab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. Ecolab’s dividend payout ratio is presently 42.22%.

Institutional Investors Weigh In On Ecolab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in Ecolab by 2,805.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 38,492 shares of the basic materials company’s stock worth $7,635,000 after purchasing an additional 37,167 shares during the period. Carnegie Capital Asset Management LLC raised its stake in Ecolab by 1.9% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 111,563 shares of the basic materials company’s stock worth $22,129,000 after buying an additional 2,051 shares in the last quarter. Prio Wealth Limited Partnership lifted its holdings in Ecolab by 526.2% during the fourth quarter. Prio Wealth Limited Partnership now owns 56,959 shares of the basic materials company’s stock worth $11,298,000 after buying an additional 47,863 shares during the period. Cerity Partners LLC boosted its position in Ecolab by 12.5% during the 4th quarter. Cerity Partners LLC now owns 87,402 shares of the basic materials company’s stock valued at $17,338,000 after acquiring an additional 9,695 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Ecolab in the 4th quarter valued at $35,040,000. Hedge funds and other 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.