Veralto (NYSE:VLTO) Given New $102.00 Price Target at Stifel Nicolaus

Veralto (NYSE:VLTO - Get Free Report) had its target price lowered by research analysts at Stifel Nicolaus from $110.00 to $102.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 16.72% from the company's current price.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a report on Thursday, February 6th. Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Veralto presently has a consensus rating of "Hold" and an average target price of $111.10.

Veralto Trading Down 2.4 %

Shares of VLTO traded down $2.15 during midday trading on Wednesday, reaching $87.39. The company had a trading volume of 196,366 shares, compared to its average volume of 1,483,669. Veralto has a 1-year low of $83.87 and a 1-year high of $115.00. The stock has a market cap of $21.68 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The firm has a 50 day simple moving average of $95.86 and a 200-day simple moving average of $101.68. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts forecast that Veralto will post 3.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares of the company's stock, valued at $849,964.50. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,471 shares of company stock worth $2,234,030. 0.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veralto

Several institutional investors and hedge funds have recently modified their holdings of VLTO. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto in the fourth quarter worth approximately $25,000. OFI Invest Asset Management purchased a new position in Veralto in the fourth quarter valued at about $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto during the 4th quarter valued at about $29,000. Albion Financial Group UT lifted its position in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Veralto in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors 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.