Flputnam Investment Management Co. Cuts Holdings in Ecolab Inc. (NYSE:ECL)

Flputnam Investment Management Co. trimmed its holdings in shares of Ecolab Inc. (NYSE:ECL) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,248 shares of the basic materials company’s stock after selling 251 shares during the period. Flputnam Investment Management Co.’s holdings in Ecolab were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Ecolab during the 3rd quarter worth approximately $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Ecolab during the 2nd quarter worth approximately $25,000. First Personal Financial Services purchased a new position in shares of Ecolab during the 4th quarter worth approximately $26,000. Live Oak Investment Partners acquired a new stake in shares of Ecolab in the 4th quarter worth approximately $26,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Ecolab in the 3rd quarter worth approximately $27,000. 74.91% of the stock is owned by hedge funds and other institutional investors.

Ecolab Trading Up 0.6 %

Shares of Ecolab stock opened at $220.35 on Wednesday. Ecolab Inc. has a fifty-two week low of $156.72 and a fifty-two week high of $231.86. The firm has a market cap of $63.00 billion, a PE ratio of 46.00, a P/E/G ratio of 2.56 and a beta of 1.10. The business’s fifty day moving average is $222.38 and its two-hundred day moving average is $198.49. The company has a quick ratio of 0.95, a current ratio of 1.30 and a debt-to-equity ratio of 0.94.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, February 13th. The basic materials company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.92 billion. Ecolab had a return on equity of 19.36% and a net margin of 8.96%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 EPS. Analysts anticipate that Ecolab Inc. will post 6.42 earnings per share for the current year.

Ecolab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, March 18th. Ecolab’s dividend payout ratio (DPR) is currently 47.60%.

Wall Street Analyst Weigh In

ECL has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $238.00 price target on shares of Ecolab in a report on Tuesday, April 9th. Seaport Res Ptn cut Ecolab from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Wells Fargo & Company upped their price target on Ecolab from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Piper Sandler began coverage on Ecolab in a report on Wednesday, April 3rd. They set an “overweight” rating and a $260.00 target price on the stock. Finally, Citigroup increased their target price on Ecolab from $237.00 to $256.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ecolab has an average rating of “Hold” and a consensus price target of $230.47.

Ecolab 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.