Ecolab (NYSE:ECL) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Ecolab (NYSE:ECL) in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a $260.00 price objective on the basic materials company’s stock.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Ecolab from $220.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. BMO Capital Markets upped their price objective on shares of Ecolab from $227.00 to $234.00 and gave the stock a market perform rating in a report on Wednesday, May 1st. Mizuho upgraded shares of Ecolab from a neutral rating to a buy rating and increased their target price for the company from $216.00 to $260.00 in a report on Friday, April 12th. Wolfe Research started coverage on shares of Ecolab in a report on Friday, March 1st. They issued a peer perform rating for the company. Finally, Morgan Stanley increased their target price 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. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $239.56.

Ecolab Stock Up 0.5 %

Shares of NYSE ECL opened at $234.31 on Tuesday. The firm has a market cap of $66.91 billion, a PE ratio of 43.39, a P/E/G ratio of 2.47 and a beta of 1.09. Ecolab has a 12-month low of $156.72 and a 12-month high of $236.00. The company’s fifty day simple moving average is $227.29 and its 200 day simple moving average is $210.18. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 0.92.

Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Ecolab had a net margin of 10.01% and a return on equity of 20.56%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Ecolab will post 6.59 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, June 18th. This represents a $2.28 dividend on an annualized basis and a yield of 0.97%. Ecolab’s dividend payout ratio is presently 42.22%.

Insiders Place Their Bets

In other Ecolab news, Director David Maclennan bought 650 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $227.37 per share, for a total transaction of $147,790.50. Following the completion of the transaction, the director now directly owns 17,111 shares of the company’s stock, valued at $3,890,528.07. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Ecolab news, Director Arthur J. Higgins sold 4,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $227.52, for a total transaction of $1,023,840.00. Following the completion of the transaction, the director now owns 25,548 shares in the company, valued at $5,812,680.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan bought 650 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $227.37 per share, with a total value of $147,790.50. Following the transaction, the director now directly owns 17,111 shares of the company’s stock, valued at $3,890,528.07. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Ecolab

A number of large investors have recently modified their holdings of ECL. First Personal Financial Services bought a new position in shares of Ecolab in the fourth quarter valued at approximately $26,000. Hexagon Capital Partners LLC boosted its position in shares of Ecolab by 150.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 135 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Motco bought a new position in shares of Ecolab in the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in shares of Ecolab in the fourth quarter valued at approximately $29,000. Finally, LRI Investments LLC bought a new position in shares of Ecolab in the first quarter valued at approximately $31,000. 74.91% of the stock is currently owned by 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.