Veralto (NYSE:VLTO) Given New $117.00 Price Target at Stifel Nicolaus

Veralto (NYSE:VLTO) had its target price dropped by analysts at Stifel Nicolaus from $119.00 to $117.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 10.59% from the stock’s previous close.

Several other brokerages have also recently weighed in on VLTO. Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Finally, BMO Capital Markets raised their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $108.09.

Veralto Stock Down 0.6 %

Shares of VLTO traded down $0.59 during mid-day trading on Wednesday, hitting $105.80. 168,781 shares of the company’s stock were exchanged, compared to its average volume of 1,512,161. The company has a market cap of $26.17 billion, a PE ratio of 32.88, a P/E/G ratio of 4.39 and a beta of 0.91. Veralto has a 52 week low of $73.91 and a 52 week high of $115.00. The company has a 50-day simple moving average of $107.48 and a 200 day simple moving average of $105.21. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

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

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at $1,256,620.75. The trade was a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock valued at $1,615,017 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veralto

Hedge funds and other institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. raised 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 purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Veralto by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after purchasing an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Veralto by 1.4% in the third 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 in the last quarter. Strategic Blueprint LLC raised its stake in Veralto by 4.5% in the third 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. Finally, Insigneo Advisory Services LLC raised its stake in Veralto by 1.8% in the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds 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.