Price T Rowe Associates Inc. MD lifted its stake in shares of Ecolab Inc. (NYSE:ECL – Get Rating) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 414,214 shares of the basic materials company’s stock after buying an additional 4,601 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Ecolab were worth $59,822,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ECL. Putnam Investments LLC raised its stake in Ecolab by 1.5% during the third quarter. Putnam Investments LLC now owns 323,191 shares of the basic materials company’s stock worth $46,676,000 after purchasing an additional 4,910 shares during the period. Prana Capital Management LP raised its position in shares of Ecolab by 27.0% during the 3rd quarter. Prana Capital Management LP now owns 3,607 shares of the basic materials company’s stock valued at $521,000 after buying an additional 766 shares during the period. Quest Investment Management LLC lifted its holdings in Ecolab by 9.1% in the third quarter. Quest Investment Management LLC now owns 82,731 shares of the basic materials company’s stock valued at $11,948,000 after acquiring an additional 6,895 shares during the last quarter. Logan Capital Management Inc. grew its position in Ecolab by 0.7% in the third quarter. Logan Capital Management Inc. now owns 21,302 shares of the basic materials company’s stock worth $3,076,000 after acquiring an additional 146 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in Ecolab by 0.9% during the third quarter. Ensign Peak Advisors Inc now owns 254,113 shares of the basic materials company’s stock worth $36,700,000 after acquiring an additional 2,182 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on ECL shares. Royal Bank of Canada upgraded Ecolab from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $155.00 to $185.00 in a report on Wednesday, February 15th. Barclays boosted their price target on shares of Ecolab from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 15th. Mizuho increased their price objective on shares of Ecolab from $158.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. JPMorgan Chase & Co. boosted their target price on Ecolab from $175.00 to $180.00 in a research report on Friday, December 9th. Finally, Stifel Nicolaus raised their price target on Ecolab from $140.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, February 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.13.
Insider Activity at Ecolab
Ecolab Price Performance
Ecolab stock opened at $157.80 on Tuesday. Ecolab Inc. has a 12-month low of $131.04 and a 12-month high of $185.50. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 1.11. The stock has a market cap of $44.89 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company has a fifty day simple moving average of $154.95 and a 200-day simple moving average of $152.02.
Ecolab (NYSE:ECL – Get Rating) last issued its earnings results on Tuesday, February 14th. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.69 billion. Ecolab had a return on equity of 18.02% and a net margin of 7.69%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. Equities analysts expect that Ecolab Inc. will post 4.93 EPS for the current fiscal year.
Ecolab Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Tuesday, March 21st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Monday, March 20th. Ecolab’s payout ratio is 55.50%.
Ecolab Company Profile
Ecolab, Inc engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional & Specialty, Global Energy & Life Science, and Other. The Global Industrial segment consists of the water, food and beverage, paper, and downstream operating segments.
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