Veralto (NYSE:VLTO) Price Target Lowered to $116.00 at Citigroup

Veralto (NYSE:VLTO) had its price objective reduced by investment analysts at Citigroup from $118.00 to $116.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 15.76% from the company’s current price.

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

Veralto Trading Up 0.1 %

Shares of NYSE VLTO traded up $0.11 during midday trading on Monday, hitting $100.21. The stock had a trading volume of 541,728 shares, compared to its average volume of 1,075,732. The company has a market capitalization of $24.78 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 4.30 and a beta of 1.06. Veralto has a 1-year low of $73.91 and a 1-year high of $115.00. 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 company has a fifty day moving average price of $104.19 and a 200 day moving average price of $105.67.

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

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Veralto during the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the 2nd quarter worth $26,000. Fairscale Capital LLC acquired a new position in Veralto during the 2nd quarter worth $30,000. Raleigh Capital Management Inc. boosted its position in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the period. Finally, Versant Capital Management Inc boosted its position in Veralto by 140.1% during the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.