Miracle Mile Advisors LLC Reduces Stock Holdings in Ecolab Inc. (NYSE:ECL)

Miracle Mile Advisors LLC lowered its position in Ecolab Inc. (NYSE:ECLFree Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,243 shares of the basic materials company’s stock after selling 452 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Ecolab were worth $842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ECL. OFI Invest Asset Management purchased a new stake in shares of Ecolab in the third quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of Ecolab in the second quarter valued at about $25,000. Live Oak Investment Partners purchased a new stake in shares of Ecolab in the fourth quarter valued at about $26,000. DHJJ Financial Advisors Ltd. purchased a new position in Ecolab during the third quarter worth about $27,000. Finally, Robbins Farley purchased a new position in Ecolab during the third quarter worth about $27,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Ecolab Stock Down 0.2 %

Shares of NYSE:ECL opened at $227.49 on Wednesday. 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 Inc. has a fifty-two week low of $156.72 and a fifty-two week high of $231.86. The firm’s 50 day moving average price is $216.80 and its 200 day moving average price is $194.50. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 2.69 and a beta of 1.10.

Ecolab (NYSE:ECLGet Free Report) last released its quarterly earnings data 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. Ecolab had a net margin of 8.96% and a return on equity of 19.36%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Ecolab Inc. will post 6.43 earnings per share for the current fiscal year.

Ecolab Dividend Announcement

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

Wall Street Analyst Weigh In

ECL has been the subject of several research analyst reports. Seaport Res Ptn lowered shares of Ecolab from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Barclays raised shares of Ecolab from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $225.00 to $260.00 in a research note on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $238.00 target price on shares of Ecolab in a research note on Wednesday, February 14th. UBS Group increased their target price 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. Finally, Wolfe Research assumed coverage on shares of Ecolab in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.19.

Read Our Latest Stock Analysis on Ecolab

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.

Further Reading

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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