Stifel Nicolaus Raises Veralto (NYSE:VLTO) Price Target to $117.00

Veralto (NYSE:VLTO) had its price target upped by Stifel Nicolaus from $110.00 to $117.00 in a research note released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts also recently commented on VLTO. BMO Capital Markets lifted their price target on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. TD Cowen assumed coverage on shares of Veralto in a research note on Monday, June 17th. They set a hold rating and a $95.00 target price for the company. Royal Bank of Canada restated a sector perform rating and issued a $101.00 price target on shares of Veralto in a research report on Friday, June 14th. Citigroup upped their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a neutral rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $103.33.

Veralto Trading Down 0.4 %

NYSE:VLTO opened at $106.60 on Monday. The company has a market capitalization of $26.34 billion and a P/E ratio of 31.75. The stock’s 50 day moving average price is $99.39 and its 200 day moving average price is $91.72. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. On average, research analysts forecast that Veralto will post 3.43 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, June 28th.

Insider Activity

In other Veralto news, insider Jennifer Honeycutt 13,191 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Honeycutt 13,191 shares of the business’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds have recently made changes to their positions in VLTO. SG Americas Securities LLC acquired a new position in shares of Veralto during the fourth quarter worth $729,000. Pacer Advisors Inc. bought a new stake in Veralto during the 4th quarter worth $1,362,000. Assenagon Asset Management S.A. acquired a new position in Veralto in the 4th quarter worth about $965,000. Blue Trust Inc. bought a new position in Veralto in the fourth quarter valued at about $26,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Veralto by 63.6% during the fourth quarter. Global Retirement Partners LLC now owns 3,843 shares of the company’s stock valued at $316,000 after purchasing an additional 1,494 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.