Citigroup Cuts Veralto (NYSE:VLTO) Price Target to $116.00

Veralto (NYSE:VLTO) had its target price cut by Citigroup from $118.00 to $116.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus lowered their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Trading Up 0.0 %

NYSE:VLTO opened at $102.41 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market cap of $25.33 billion, a PE ratio of 31.61, a P/E/G ratio of 4.30 and a beta of 1.06. Veralto has a 52 week low of $73.91 and a 52 week high of $115.00. The business’s 50 day moving average is $104.14 and its two-hundred day moving average is $105.74.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that Veralto will post 3.48 EPS for the current year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several large investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. State Street Corp increased its holdings in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after acquiring an additional 757,389 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Veralto by 29.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock worth $208,511,000 after acquiring an additional 418,588 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.