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

Veralto (NYSE:VLTO) had its target price cut by Royal Bank of Canada from $111.00 to $110.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 12.38% from the stock’s current price.

A number of other equities analysts also recently commented on VLTO. Jefferies Financial Group initiated 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. Stifel Nicolaus dropped their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Stock Up 2.2 %

Shares of VLTO stock traded up $2.07 on Thursday, hitting $97.88. The stock had a trading volume of 826,297 shares, compared to its average volume of 1,373,094. The company has a market cap of $24.21 billion, a PE ratio of 30.19, a P/E/G ratio of 4.35 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $103.29 and a 200 day moving average price of $106.31. Veralto has a one year low of $79.43 and a one year high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping 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%. Research analysts anticipate that Veralto will post 3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veralto

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Veralto by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,595,975 shares of the company’s stock valued at $162,550,000 after buying an additional 46,259 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Veralto by 21.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,306 shares of the company’s stock valued at $439,000 after buying an additional 761 shares during the last quarter. NBW Capital LLC lifted its holdings in Veralto by 455.2% in the fourth quarter. NBW Capital LLC now owns 40,371 shares of the company’s stock valued at $4,112,000 after acquiring an additional 33,100 shares during the period. DJE Kapital AG acquired a new position in Veralto in the fourth quarter valued at approximately $292,000. Finally, Silphium Asset Management Ltd lifted its holdings in Veralto by 25.4% in the fourth quarter. Silphium Asset Management Ltd now owns 29,715 shares of the company’s stock valued at $3,026,000 after acquiring an additional 6,015 shares during the period. Hedge funds and other institutional investors 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.