Veralto (NYSE:VLTO) PT Set at $120.00 by Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target for Veralto (NYSE:VLTO) from $116.00 to $120.00, suggesting a potential upside of 14.46% from the current price, along with a "buy" rating.
• Veralto reported a quarterly earnings per share of $0.93, surpassing analysts' expectations, while revenue grew by 6.4% year-over-year, reaching $1.37 billion.
• Institutional investors own 91.28% of Veralto's stock, with significant recent investments from multiple firms, indicating strong institutional interest in the company.

Stifel Nicolaus set a $120.00 price target on Veralto (NYSE:VLTO - Free Report) in a research note published on Wednesday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on VLTO. Royal Bank Of Canada lifted their price target on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Northcoast Research initiated coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Robert W. Baird lifted their price objective on Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Citigroup decreased their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Veralto Trading Down 1.0%

Shares of NYSE:VLTO traded down $1.05 during trading on Wednesday, reaching $103.79. 163,005 shares of the company traded hands, compared to its average volume of 1,398,406. The firm has a market capitalization of $25.76 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 1.00. The business's fifty day moving average is $101.07 and its 200-day moving average is $98.59. Veralto has a 52-week low of $83.86 and a 52-week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The business's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, analysts forecast that Veralto will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 30th. Veralto's dividend payout ratio is presently 12.29%.

Insider Activity

In other news, SVP Mattias Bystrom sold 2,500 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the transaction, the senior vice president owned 32,430 shares in the company, valued at $3,241,702.80. This trade represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares of the company's stock, valued at $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,806 shares of company stock worth $381,351 over the last ninety days. Corporate insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baldwin Investment Management LLC raised its holdings in Veralto by 3.4% during the 1st quarter. Baldwin Investment Management LLC now owns 3,219 shares of the company's stock valued at $314,000 after buying an additional 106 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Veralto by 1.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company's stock worth $652,000 after buying an additional 110 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Veralto by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock valued at $856,000 after purchasing an additional 113 shares during the period. Phoenix Financial Ltd. increased its holdings in Veralto by 2.9% during the first quarter. Phoenix Financial Ltd. now owns 4,644 shares of the company's stock valued at $454,000 after buying an additional 132 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Veralto by 3.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,883 shares of the company's stock valued at $378,000 after acquiring an additional 134 shares during the period. 91.28% of the stock is owned by hedge funds and other 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.