Ecolab (NYSE:ECL) Upgraded to Buy at Bank of America

Bank of America upgraded shares of Ecolab (NYSE:ECL) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Bank of America currently has $272.00 price objective on the basic materials company’s stock, up from their prior price objective of $251.00.

ECL has been the subject of a number of other reports. UBS Group raised their price objective on Ecolab from $270.00 to $282.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Raymond James raised their price objective on Ecolab from $230.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, April 3rd. Mizuho raised Ecolab from a neutral rating to a buy rating and raised their price objective for the stock from $216.00 to $260.00 in a research report on Friday, April 12th. Piper Sandler initiated coverage on Ecolab in a research report on Wednesday, April 3rd. They set an overweight rating and a $260.00 price objective for the company. Finally, Citigroup upgraded Ecolab from a neutral rating to a buy rating and lowered their target price for the company from $267.00 to $265.00 in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $249.13.

Ecolab Stock Down 1.3 %

Shares of ECL opened at $237.19 on Wednesday. Ecolab has a 52-week low of $156.72 and a 52-week high of $249.00. The company has a market capitalization of $67.73 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The stock has a fifty day simple moving average of $239.80 and a two-hundred day simple moving average of $226.90. The company has a quick ratio of 0.99, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Ecolab (NYSE:ECL) last issued its earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Ecolab had a return on equity of 21.65% and a net margin of 10.95%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. As a group, equities analysts forecast that Ecolab will post 6.61 EPS for the current year.

Ecolab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, September 17th. Ecolab’s dividend payout ratio is presently 42.22%.

Insider Transactions at Ecolab

In related news, Director Arthur J. Higgins sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $227.52, for a total value of $1,023,840.00. Following the completion of the transaction, the director now directly owns 25,548 shares of the company’s stock, valued at $5,812,680.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Ecolab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC purchased a new stake in Ecolab in the second quarter valued at approximately $26,000. PSI Advisors LLC purchased a new position in Ecolab in the second quarter worth $27,000. Kings Path Partners LLC acquired a new stake in Ecolab in the second quarter valued at $27,000. First Personal Financial Services acquired a new stake in Ecolab in the fourth quarter valued at $26,000. Finally, LRI Investments LLC acquired a new stake in shares of Ecolab during the first quarter valued at $31,000. 74.91% of the stock is owned by institutional investors and hedge funds.

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.