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

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

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

Check Out Our Latest Analysis on Veralto

Veralto Price Performance

Shares of NYSE VLTO opened at $101.79 on Friday. The stock has a market cap of $25.17 billion, a P/E ratio of 31.42, a P/E/G ratio of 4.31 and a beta of 1.06. 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 stock has a 50 day moving average of $103.97 and a two-hundred day moving average of $106.09. Veralto has a twelve month low of $75.05 and a twelve month high of $115.00.

Veralto (NYSE:VLTOGet Free Report) last released its 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 for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Veralto will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio is 13.58%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veralto

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto in the third quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Veralto in the second quarter valued at about $26,000. Raleigh Capital Management Inc. grew its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Albion Financial Group UT grew its stake in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Veralto during the 4th quarter valued at approximately $42,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Veralto

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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.

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Analyst Recommendations for Veralto (NYSE:VLTO)

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