Drive Wealth Management LLC Invests $211,000 in Ecolab Inc. (NYSE:ECL)

Drive Wealth Management LLC acquired a new position in shares of Ecolab Inc. (NYSE:ECLFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,062 shares of the basic materials company’s stock, valued at approximately $211,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Ecolab by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 22,877,417 shares of the basic materials company’s stock worth $3,875,434,000 after purchasing an additional 387,545 shares during the last quarter. State Street Corp lifted its position in shares of Ecolab by 1.3% during the 1st quarter. State Street Corp now owns 11,229,633 shares of the basic materials company’s stock worth $1,864,760,000 after purchasing an additional 141,180 shares during the last quarter. Morgan Stanley lifted its position in shares of Ecolab by 58.0% during the 4th quarter. Morgan Stanley now owns 5,510,224 shares of the basic materials company’s stock worth $802,069,000 after purchasing an additional 2,023,685 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ecolab by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 4,611,872 shares of the basic materials company’s stock worth $761,451,000 after purchasing an additional 64,844 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Ecolab by 4.0% during the 2nd quarter. Royal Bank of Canada now owns 3,730,373 shares of the basic materials company’s stock worth $696,424,000 after acquiring an additional 144,420 shares in the last quarter. 74.91% of the stock is owned by hedge funds and other institutional investors.

Ecolab Stock Down 0.2 %

Shares of NYSE ECL opened at $227.49 on Wednesday. Ecolab Inc. has a 12-month low of $156.72 and a 12-month high of $231.86. The company has a market capitalization of $65.04 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.30 and a quick ratio of 0.95. The firm’s 50-day moving average is $216.80 and its two-hundred day moving average is $194.50.

Ecolab (NYSE:ECLGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.92 billion. Ecolab had a net margin of 8.96% and a return on equity of 19.36%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Equities analysts anticipate that Ecolab Inc. will post 6.43 EPS for the current fiscal year.

Ecolab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, March 18th. Ecolab’s payout ratio is 47.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Ecolab in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Stifel Nicolaus lifted their price target on shares of Ecolab from $193.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. UBS Group lifted their price target on shares of Ecolab from $211.00 to $227.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $238.00 price target on shares of Ecolab in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lowered shares of Ecolab from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $200.00 to $220.00 in a research note on Wednesday, February 14th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ecolab has an average rating of “Hold” and a consensus price target of $222.19.

Read Our Latest Report on ECL

About Ecolab

(Free Report)

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.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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