Ecolab Inc. (NYSE:ECL) Sees Significant Decline in Short Interest

Ecolab Inc. (NYSE:ECL) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,630,000 shares, a decrease of 10.4% from the August 31st total of 1,820,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 998,600 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Several analysts have commented on ECL shares. Stifel Nicolaus upgraded shares of Ecolab from a “hold” rating to a “buy” rating and upped their target price for the company from $233.00 to $283.00 in a research report on Monday, July 8th. BMO Capital Markets increased their price target on Ecolab from $234.00 to $260.00 and gave the stock a “market perform” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Ecolab from $225.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler upped their target price on shares of Ecolab from $270.00 to $305.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird raised their price target on shares of Ecolab from $243.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.29.

Ecolab Trading Down 0.8 %

ECL traded down $1.97 during trading on Tuesday, reaching $253.37. 990,656 shares of the stock traded hands, compared to its average volume of 1,113,980. The stock has a market capitalization of $72.35 billion, a PE ratio of 46.92, a P/E/G ratio of 2.57 and a beta of 1.13. Ecolab has a 12 month low of $156.72 and a 12 month high of $256.59. The stock’s 50-day moving average is $245.81 and its 200 day moving average is $237.51. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Ecolab (NYSE:ECL) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. Equities analysts anticipate that Ecolab will post 6.65 earnings per share for the current year.

Ecolab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $2.28 annualized dividend and a dividend yield of 0.90%. Ecolab’s payout ratio is 42.22%.

Insider Buying and Selling at Ecolab

In other Ecolab news, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $250.00, for a total value of $98,250.00. Following the completion of the sale, the director now owns 24,041 shares in the company, valued at approximately $6,010,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gregory B. Cook sold 3,811 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $249.33, for a total transaction of $950,196.63. Following the transaction, the executive vice president now owns 8,080 shares in the company, valued at approximately $2,014,586.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $98,250.00. Following the completion of the sale, the director now directly owns 24,041 shares of the company’s stock, valued at approximately $6,010,250. The disclosure for this sale can be found here. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Ecolab

A number of large investors have recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new position in Ecolab in the 2nd quarter worth $26,000. PSI Advisors LLC bought a new stake in Ecolab during the 2nd quarter valued at about $27,000. Kings Path Partners LLC bought a new position in Ecolab in the 2nd quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in Ecolab in the 1st quarter worth about $31,000. Finally, Meeder Asset Management Inc. purchased a new position in Ecolab in the 2nd quarter worth about $33,000. 74.91% of the stock is owned by institutional investors.

About Ecolab

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.