Ecolab (NYSE:ECL – Free Report) had its target price boosted by Citigroup from $290.00 to $305.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the stock. Piper Sandler cut their price target on shares of Ecolab from $305.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Ecolab from $228.00 to $255.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets raised shares of Ecolab from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $279.00 to $290.00 in a report on Tuesday, December 17th. Morgan Stanley raised shares of Ecolab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $263.00 to $280.00 in a report on Tuesday, January 28th. Finally, Royal Bank of Canada cut their price target on shares of Ecolab from $306.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Ecolab currently has an average rating of “Moderate Buy” and an average price target of $284.33.
Get Our Latest Analysis on Ecolab
Ecolab Stock Performance
Ecolab (NYSE:ECL – Get Free Report) last issued its earnings results on Tuesday, February 11th. The basic materials company reported $1.81 EPS for the quarter, hitting analysts’ consensus estimates of $1.81. Ecolab had a net margin of 13.05% and a return on equity of 22.12%. On average, equities research analysts expect that Ecolab will post 6.64 earnings per share for the current fiscal year.
Ecolab Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 17th were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from Ecolab’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.99%. Ecolab’s payout ratio is 36.47%.
Insiders Place Their Bets
In other Ecolab news, major shareholder William H. Gates III sold 106,542 shares of Ecolab stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.21, for a total value of $25,698,995.82. Following the completion of the transaction, the insider now directly owns 29,348,741 shares of the company’s stock, valued at approximately $7,079,209,816.61. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 260,415 shares of company stock valued at $63,544,899. Insiders own 0.04% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Coastline Trust Co purchased a new position in shares of Ecolab during the third quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Ecolab by 134.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 108 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 62 shares during the last quarter. Graney & King LLC purchased a new position in shares of Ecolab during the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC bought a new stake in Ecolab during the fourth quarter valued at approximately $28,000. Finally, Concord Wealth Partners grew its position in Ecolab by 62.0% during the third quarter. Concord Wealth Partners now owns 149 shares of the basic materials company’s stock valued at $38,000 after buying an additional 57 shares during the period. 74.91% of the stock is owned by hedge funds and other institutional investors.
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.
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