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

Veralto (NYSE:VLTO) had its price target lowered by Stifel Nicolaus from $117.00 to $116.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts also recently issued reports on VLTO. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Veralto has a consensus rating of “Hold” and an average target price of $113.18.

Veralto Trading Down 1.4 %

NYSE:VLTO opened at $101.79 on Friday. 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’s 50 day moving average is $103.97 and its two-hundred day moving average is $106.09. Veralto has a 52 week low of $75.05 and a 52 week high of $115.00. The company has a market cap of $25.17 billion, a PE ratio of 31.42, a P/E/G ratio of 4.31 and a beta of 1.06.

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

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is 13.58%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of 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 purchasing an additional 1,009,170 shares during the last quarter. FMR LLC lifted its position in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after purchasing an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after purchasing an additional 11,430 shares during the last quarter. 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.