Veralto (NYSE:VLTO) Price Target Lowered to $116.00 at Stifel Nicolaus

Veralto (NYSE:VLTO) had its price target cut by Stifel Nicolaus from $117.00 to $116.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Citigroup reduced their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $113.18.

Veralto Stock Down 1.4 %

Shares of NYSE VLTO opened at $101.79 on Friday. The stock has a 50-day moving average price of $103.99 and a two-hundred day moving average price of $105.98. Veralto has a 12 month low of $75.05 and a 12 month high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 4.31 and a beta of 1.06.

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

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VLTO. Brown Brothers Harriman & Co. grew its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after acquiring an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares during the period. Strategic Blueprint LLC increased its stake in Veralto by 4.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after buying an additional 103 shares during the last quarter. Finally, Graypoint LLC lifted its stake in shares of Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock valued at $505,000 after buying an additional 107 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Company Profile

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.