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

Veralto (NYSE:VLTO) had its price objective lowered by research analysts at Citigroup from $118.00 to $116.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 13.30% from the company’s current price.

A number of other analysts have also recently weighed in on VLTO. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus reduced their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.27.

Veralto Stock Performance

Veralto stock opened at $102.38 on Monday. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. Veralto has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The stock’s 50-day moving average is $104.14 and its 200-day moving average is $105.74.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Veralto will post 3.48 earnings per share for the current year.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veralto

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto in the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new stake in shares of Veralto during the 2nd quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Veralto by 140.1% during the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after purchasing an additional 255 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.