Ecolab Inc. (NYSE:ECL) had its price objective increased by Royal Bank Of Canada from $134.00 to $137.00 in a research report sent to investors on Tuesday morning. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.
ECL has been the subject of a number of other reports. Deutsche Bank AG boosted their price objective on shares of Ecolab from $132.00 to $134.00 and gave the stock a hold rating in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $141.00 target price (up previously from $133.00) on shares of Ecolab in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Ecolab from a buy rating to a hold rating in a research report on Thursday, July 27th. Credit Suisse Group set a $128.00 target price on shares of Ecolab and gave the stock a hold rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity boosted their target price on shares of Ecolab from $135.00 to $145.00 and gave the stock a buy rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Ecolab currently has a consensus rating of Hold and an average price target of $133.93.
Shares of Ecolab (NYSE ECL) traded down 0.55% during trading on Tuesday, hitting $129.27. 130,979 shares of the stock were exchanged. Ecolab has a 12-month low of $110.65 and a 12-month high of $134.89. The stock’s 50 day moving average is $131.53 and its 200-day moving average is $129.28. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 29.55 and a beta of 0.99.
Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $1.08 earnings per share. Ecolab’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Ecolab will post $4.74 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, September 19th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.14%. Ecolab’s dividend payout ratio is 33.79%.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $132.57 per share, with a total value of $10,009,035.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.49% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Ecolab by 60.0% during the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 800 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 300 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in shares of Ecolab by 4.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 763 shares of the basic materials company’s stock valued at $101,000 after buying an additional 35 shares during the last quarter. Atlantic Trust LLC acquired a new stake in shares of Ecolab in the 2nd quarter valued at approximately $106,000. JNBA Financial Advisors boosted its holdings in shares of Ecolab by 2.5% in the 1st quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock valued at $109,000 after buying an additional 21 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Ecolab by 4.9% in the 2nd quarter. IHT Wealth Management LLC now owns 811 shares of the basic materials company’s stock valued at $116,000 after buying an additional 38 shares during the last quarter. 75.54% of the stock is owned by institutional investors.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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