Veralto (NYSE:VLTO) PT Raised to $119.00 at Stifel Nicolaus

Veralto (NYSE:VLTO) had its price target increased by investment analysts at Stifel Nicolaus from $117.00 to $119.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 5.26% from the stock’s previous close.

VLTO has been the topic of several other reports. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Veralto currently has an average rating of “Hold” and an average price target of $108.00.

Veralto Stock Up 0.5 %

Shares of NYSE VLTO opened at $113.05 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto has a 52 week low of $65.51 and a 52 week high of $114.61. The stock has a market capitalization of $27.91 billion and a P/E ratio of 35.44. The stock’s fifty day moving average is $110.51 and its 200 day moving average is $101.78.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Sell-side analysts forecast that Veralto will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock valued at $4,310,335 over the last ninety days. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veralto

A number of hedge funds have recently added to or reduced their stakes in the business. Addison Capital Co increased its holdings in shares of Veralto by 67.2% during the third quarter. Addison Capital Co now owns 15,120 shares of the company’s stock valued at $1,691,000 after acquiring an additional 6,077 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Veralto by 112.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,278 shares of the company’s stock valued at $6,183,000 after acquiring an additional 29,313 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Veralto during the third quarter valued at approximately $996,000. Vontobel Holding Ltd. increased its holdings in shares of Veralto by 1.2% during the third quarter. Vontobel Holding Ltd. now owns 525,660 shares of the company’s stock valued at $58,800,000 after acquiring an additional 6,096 shares in the last quarter. Finally, Sumitomo Life Insurance Co. bought a new stake in Veralto during the third quarter worth $1,085,000. 91.28% of the stock is currently 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.