Ecolab (NYSE:ECL) Hits New 52-Week High – Here’s What Happened

Shares of Ecolab Inc. (NYSE:ECL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $261.85 and last traded at $261.80, with a volume of 305714 shares trading hands. The stock had previously closed at $257.10.

Analyst Ratings Changes

A number of research firms have recently issued reports on ECL. Piper Sandler increased their target price on Ecolab from $270.00 to $305.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Wells Fargo & Company reiterated a “market perform” rating on shares of Ecolab in a research note on Friday. Robert W. Baird lifted their price target on shares of Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of Ecolab from $234.00 to $260.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus upgraded shares of Ecolab from a “hold” rating to a “buy” rating and upped their target price for the company from $233.00 to $283.00 in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.80.

Ecolab Price Performance

The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $250.32 and a two-hundred day moving average of $239.83. The firm has a market cap of $74.67 billion, a P/E ratio of 48.42, a PEG ratio of 2.58 and a beta of 1.13.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. Sell-side analysts expect that Ecolab Inc. will post 6.65 EPS for the current year.

Ecolab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, September 17th. Ecolab’s dividend payout ratio is presently 42.22%.

Insider Transactions at Ecolab

In related news, Director David Maclennan purchased 650 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $240.41 per share, for a total transaction of $156,266.50. Following the transaction, the director now directly owns 17,967 shares of the company’s stock, valued at $4,319,446.47. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the transaction, the director now owns 24,041 shares of the company’s stock, valued at approximately $6,010,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Maclennan bought 650 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $240.41 per share, for a total transaction of $156,266.50. Following the completion of the purchase, the director now owns 17,967 shares in the company, valued at approximately $4,319,446.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Institutional Trading of Ecolab

Several hedge funds and other institutional investors have recently modified their holdings of ECL. Triad Wealth Partners LLC purchased a new stake in Ecolab in the 2nd quarter worth about $26,000. PSI Advisors LLC purchased a new stake in shares of Ecolab in the second quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in shares of Ecolab during the second quarter worth approximately $27,000. LRI Investments LLC purchased a new position in Ecolab during the first quarter valued at approximately $31,000. Finally, MFA Wealth Advisors LLC acquired a new position in Ecolab in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

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.