Stifel Nicolaus Issues Pessimistic Forecast for Veralto (NYSE:VLTO) Stock Price

Veralto (NYSE:VLTO) had its target price cut by stock analysts at Stifel Nicolaus from $119.00 to $117.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 10.58% from the stock’s current price.

A number of other research firms have also recently issued reports on VLTO. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. 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. Finally, Royal Bank of Canada lifted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Veralto has an average rating of “Hold” and a consensus price target of $109.50.

Veralto Stock Performance

Veralto stock opened at $105.81 on Wednesday. The stock has a 50-day simple moving average of $107.29 and a 200 day simple moving average of $105.24. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto has a 12-month low of $73.91 and a 12-month high of $115.00. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 4.39 and a beta of 0.91.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business posted $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, research analysts anticipate that Veralto will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at Veralto

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

Hedge Funds Weigh In On Veralto

Institutional investors and hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its stake in Veralto by 12.7% in the 3rd quarter. Retirement Systems of Alabama now owns 54,633 shares of the company’s stock valued at $6,111,000 after acquiring an additional 6,170 shares in the last quarter. Tidal Investments LLC lifted its stake in Veralto by 12.5% in the 3rd quarter. Tidal Investments LLC now owns 16,534 shares of the company’s stock valued at $1,849,000 after acquiring an additional 1,832 shares in the last quarter. Cim Investment Management Inc. bought a new stake in Veralto in the 3rd quarter valued at approximately $469,000. Wilmington Savings Fund Society FSB lifted its stake in Veralto by 48.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 28,583 shares of the company’s stock valued at $3,197,000 after acquiring an additional 9,382 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Veralto in the 3rd quarter valued at approximately $202,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.