Ecolab (NYSE:ECL) Sets New 1-Year High Following Strong Earnings

Posted by Defense World Staff on May 4th, 2023

Shares of Ecolab Inc. (NYSE:ECL – Get Rating) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $179.77 and last traded at $178.82, with a volume of 325218 shares. The stock had previously closed at $174.28.

The basic materials company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Ecolab had a return on equity of 18.02% and a net margin of 7.69%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis.

Ecolab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Tuesday, March 21st were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, March 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.22%. Ecolab’s dividend payout ratio (DPR) is presently 55.50%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho upped their target price on Ecolab from $163.00 to $177.00 in a research report on Wednesday. Royal Bank of Canada raised Ecolab from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $155.00 to $185.00 in a research report on Wednesday, February 15th. Bank of America cut Ecolab from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $170.00 to $162.00 in a research report on Monday, April 17th. Wells Fargo & Company increased their price objective on Ecolab from $175.00 to $195.00 in a research report on Wednesday. Finally, Citigroup increased their price objective on Ecolab from $164.00 to $166.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Ecolab currently has a consensus rating of “Hold” and a consensus target price of $175.20.

Insider Activity

In related news, EVP Larry L. Berger sold 4,404 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $162.95, for a total value of $717,631.80. Following the completion of the transaction, the executive vice president now directly owns 12,442 shares of the company’s stock, valued at approximately $2,027,423.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Ecolab

Several hedge funds have recently bought and sold shares of ECL. Live Oak Investment Partners purchased a new position in Ecolab during the fourth quarter worth $26,000. Ronald Blue Trust Inc. increased its position in Ecolab by 135.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 245 shares of the basic materials company’s stock worth $36,000 after buying an additional 141 shares in the last quarter. Beacon Capital Management LLC increased its position in Ecolab by 1,189.5% during the fourth quarter. Beacon Capital Management LLC now owns 245 shares of the basic materials company’s stock worth $36,000 after buying an additional 226 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in Ecolab during the third quarter worth $36,000. Finally, FinTrust Capital Advisors LLC increased its position in Ecolab by 62.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 247 shares of the basic materials company’s stock worth $36,000 after buying an additional 95 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Ecolab Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a 50-day simple moving average of $162.56 and a two-hundred day simple moving average of $154.15. The company has a market cap of $49.34 billion, a PE ratio of 45.38, a P/E/G ratio of 2.65 and a beta of 1.00.

About Ecolab

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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.