Veralto (NYSE:VLTO) Given New $116.00 Price Target at Stifel Nicolaus

Veralto (NYSE:VLTO) had its price target cut by investment analysts at Stifel Nicolaus from $117.00 to $116.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 14.04% from the stock’s previous close.

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

Veralto Stock Performance

NYSE:VLTO traded down $1.55 during trading hours on Friday, hitting $101.72. 261,452 shares of the company traded hands, compared to its average volume of 1,248,256. The firm has a 50-day moving average of $103.99 and a 200 day moving average of $106.00. Veralto has a twelve month low of $75.05 and a twelve month high of $115.00. 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 market capitalization of $25.16 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 4.31 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. On average, analysts forecast that Veralto will post 3.48 EPS for the current year.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. State Street Corp boosted its holdings in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Principal Financial Group Inc. increased its stake in Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Veralto by 628.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 579,261 shares of the company’s stock worth $58,998,000 after buying an additional 499,735 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.