Ecolab (NYSE:ECL) Reaches New 12-Month High on Insider Buying Activity

Ecolab Inc. (NYSE:ECL)’s share price hit a new 52-week high during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $232.52 and last traded at $232.45, with a volume of 368525 shares changing hands. The stock had previously closed at $228.95.

Specifically, Director David Maclennan purchased 650 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost 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 in the company, valued at $3,890,528.07. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ECL. Raymond James raised their price objective on shares of Ecolab from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Citigroup lifted their price target on shares of Ecolab from $256.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of Ecolab from $225.00 to $233.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Wolfe Research assumed coverage on shares of Ecolab in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Finally, Piper Sandler initiated coverage on Ecolab in a report on Wednesday, April 3rd. They issued an “overweight” rating and a $260.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ecolab currently has a consensus rating of “Hold” and an average price target of $236.88.

Ecolab Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $66.54 billion, a price-to-earnings ratio of 42.41, a P/E/G ratio of 2.56 and a beta of 1.09. The company has a fifty day moving average price of $224.79 and a two-hundred day moving average price of $203.99.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the business earned $0.88 EPS. Ecolab’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Ecolab Inc. will post 6.58 EPS for the current fiscal year.

Ecolab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, June 18th. Ecolab’s dividend payout ratio is presently 42.22%.

Institutional Trading of Ecolab

Hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its stake in shares of Ecolab by 2,805.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 38,492 shares of the basic materials company’s stock valued at $7,635,000 after purchasing an additional 37,167 shares during the last quarter. Carnegie Capital Asset Management LLC grew its stake in shares of Ecolab by 1.9% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 111,563 shares of the basic materials company’s stock valued at $22,129,000 after purchasing an additional 2,051 shares during the last quarter. Prio Wealth Limited Partnership grew its stake in shares of Ecolab by 526.2% in the 4th quarter. Prio Wealth Limited Partnership now owns 56,959 shares of the basic materials company’s stock valued at $11,298,000 after purchasing an additional 47,863 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Ecolab by 12.5% in the 4th quarter. Cerity Partners LLC now owns 87,402 shares of the basic materials company’s stock valued at $17,338,000 after purchasing an additional 9,695 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Ecolab in the 4th quarter valued at approximately $35,040,000. 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.