Fintel reports that on March 1, 2024, Wolfe Research initiated coverage of Ecolab (NYSE:ECL) with a Peer Perform recommendation.
Analyst Price Forecast Suggests 1.59% Upside
As of February 24, 2024, the average one-year price target for Ecolab is 229.10. The forecasts range from a low of 181.80 to a high of $262.50. The average price target represents an increase of 1.59% from its latest reported closing price of 225.51.
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The projected annual revenue for Ecolab is 15,742MM, an increase of 2.75%. The projected annual non-GAAP EPS is 5.91.
Ecolab Declares $0.57 Dividend
On December 7, 2023 the company declared a regular quarterly dividend of $0.57 per share ($2.28 annualized). Shareholders of record as of December 19, 2023 received the payment on January 16, 2024. Previously, the company paid $0.53 per share.
At the current share price of $225.51 / share, the stock's dividend yield is 1.01%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.06%, the lowest has been 0.81%, and the highest has been 1.50%. The standard deviation of yields is 0.18 (n=233).
The current dividend yield is 0.28 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2094 funds or institutions reporting positions in Ecolab. This is an increase of 81 owner(s) or 4.02% in the last quarter. Average portfolio weight of all funds dedicated to ECL is 0.37%, a decrease of 5.90%. Total shares owned by institutions decreased in the last three months by 1.63% to 236,992K shares. 
The put/call ratio of ECL is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,988K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 7,997K shares, representing a decrease of 0.11%. The firm decreased its portfolio allocation in ECL by 5.92% over the last quarter.
Wellington Management Group Llp holds 6,957K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 8,675K shares, representing a decrease of 24.70%. The firm decreased its portfolio allocation in ECL by 87.42% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,096K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 5,898K shares, representing an increase of 3.25%. The firm decreased its portfolio allocation in ECL by 3.97% over the last quarter.
VDIGX - Vanguard Dividend Growth Fund Investor Shares holds 5,836K shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 7,533K shares, representing a decrease of 29.08%. The firm decreased its portfolio allocation in ECL by 22.45% over the last quarter.
Bill & Melinda Gates Foundation Trust holds 5,218K shares representing 1.83% ownership of the company. No change in the last quarter.
Ecolab Background Information
(This description is provided by the company.)
A trusted partner at nearly 3 million commercial customer locations, Ecolab (ECL) is the global leader in water, hygiene and infection prevention solutions and services. With annual sales of $13 billion and more than 45,000 associates, Ecolab delivers comprehensive solutions, data-driven insights and personalized service to advance food safety, maintain clean and safe environments, optimize water and energy use, and improve operational efficiencies and sustainability for customers in the food, healthcare, hospitality and industrial markets in more than 170 countries around the world.
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This story originally appeared on Fintel.
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