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

Veralto (NYSE:VLTO) had its price target lowered by investment analysts at Citigroup from $118.00 to $116.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 13.30% from the stock’s previous close.

Several other equities research analysts have also commented on VLTO. Stifel Nicolaus dropped their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.27.

Veralto Trading Up 1.2 %

NYSE:VLTO opened at $102.38 on Monday. The firm has a market capitalization of $25.32 billion, a P/E ratio of 31.60, a P/E/G ratio of 4.30 and a beta of 1.06. The business has a 50 day simple moving average of $104.14 and a 200 day simple moving average of $105.74. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. Veralto has a 12-month low of $73.91 and a 12-month high of $115.00.

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

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto 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 transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veralto

Several large investors have recently modified their holdings of VLTO. State Street Corp raised its position in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after purchasing an additional 860,608 shares during the period. Geode Capital Management LLC increased its stake in Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Nordea Investment Management AB raised its holdings in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. FMR LLC lifted its stake in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after buying an additional 162,347 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after buying an additional 11,430 shares during the period. 91.28% of the stock is owned by institutional investors.

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.