Ecolab Inc. (ECL) Hits New 52-Week High at $124.24
Ecolab Inc. (NYSE:ECL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $124.24 and last traded at $123.60, with a volume of 262,058 shares changing hands. The stock had previously closed at $123.10.
Several equities research analysts have commented on ECL shares. Oppenheimer Holdings Inc. upped their price target on Ecolab from $120.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Jefferies Group restated a “hold” rating on shares of Ecolab in a research note on Wednesday, July 6th. Citigroup Inc. upped their price target on Ecolab from $117.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, July 15th. Deutsche Bank AG increased their target price on Ecolab from $118.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. increased their target price on Ecolab from $103.00 to $111.00 and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $126.74.
The stock has a market cap of $36.17 billion and a P/E ratio of 38.90. The company has a 50-day moving average price of $121.71 and a 200-day moving average price of $115.86.
Ecolab (NYSE:ECL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business posted $1.08 EPS. Ecolab’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts expect that Ecolab Inc. will post $4.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, September 20th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%.
In other Ecolab news, EVP Michael A. Hickey sold 17,761 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $123.90, for a total transaction of $2,200,587.90. Following the transaction, the executive vice president now directly owns 61,342 shares in the company, valued at $7,600,273.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $122.41, for a total value of $3,158,178.00. Following the transaction, the chairman now owns 456,349 shares in the company, valued at $55,861,681.09. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ecolab stock. American International Group Inc. raised its position in Ecolab Inc. (NYSE:ECL) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,341 shares of the company’s stock after buying an additional 2,560 shares during the period. American International Group Inc.’s holdings in Ecolab were worth $13,192,000 at the end of the most recent reporting period.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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