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

Veralto (NYSE:VLTO) had its price objective trimmed by Stifel Nicolaus from $117.00 to $116.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Veralto presently has an average rating of “Hold” and an average price target of $113.18.

Veralto Price Performance

Shares of NYSE VLTO opened at $101.79 on Friday. The company has a market capitalization of $25.17 billion, a PE ratio of 31.42, a PEG ratio of 4.31 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 stock’s 50 day moving average price is $103.99 and its 200-day moving average price is $105.98. Veralto has a twelve month low of $75.05 and a twelve month high of $115.00.

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

Veralto Increases Dividend

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

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction 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 $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto in the second quarter worth approximately $26,000. Raleigh Capital Management Inc. increased its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the period. Albion Financial Group UT raised its holdings in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto during the 4th quarter valued at $42,000. 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.