Royal Bank of Canada Cuts Veralto (NYSE:VLTO) Price Target to $110.00

Veralto (NYSE:VLTO) had its price target dropped by research analysts at Royal Bank of Canada from $111.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.38% from the company’s current price.

VLTO has been the subject of a number of other reports. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Citigroup cut their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Veralto presently has an average rating of “Hold” and an average price target of $112.55.

Veralto Price Performance

VLTO traded up $2.07 during trading on Thursday, reaching $97.88. 826,297 shares of the company traded hands, compared to its average volume of 1,373,094. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto has a 12-month low of $79.43 and a 12-month high of $115.00. The firm has a fifty day simple moving average of $103.29 and a 200 day simple moving average of $106.31. The company has a market cap of $24.21 billion, a P/E ratio of 30.19, a PEG ratio of 4.35 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. On average, equities analysts forecast that Veralto will post 3.48 EPS for the current year.

Institutional Trading of Veralto

Several institutional investors and hedge funds have recently made changes to their positions in VLTO. Northwestern Mutual Wealth Management Co. lifted its position in shares of Veralto by 123.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,326 shares of the company’s stock worth $318,000 after purchasing an additional 1,836 shares during the last quarter. Czech National Bank lifted its position in shares of Veralto by 20.2% during the third quarter. Czech National Bank now owns 50,338 shares of the company’s stock worth $5,631,000 after purchasing an additional 8,474 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Veralto by 26.2% during the third quarter. GAMMA Investing LLC now owns 3,953 shares of the company’s stock worth $442,000 after purchasing an additional 820 shares during the last quarter. Mather Group LLC. lifted its position in shares of Veralto by 55.8% during the third quarter. Mather Group LLC. now owns 888 shares of the company’s stock worth $99,000 after purchasing an additional 318 shares during the last quarter. Finally, Brookstone Capital Management lifted its position in shares of Veralto by 8.9% during the third quarter. Brookstone Capital Management now owns 3,240 shares of the company’s stock worth $362,000 after purchasing an additional 266 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

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.