Veralto (NYSE:VLTO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Veralto (NYSE:VLTO) had its price target lifted by research analysts at Stifel Nicolaus from $102.00 to $104.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.81% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Robert W. Baird upped their price target on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.10.

Veralto Trading Up 1.5 %

NYSE:VLTO opened at $95.58 on Thursday. The stock has a fifty day simple moving average of $94.54 and a 200 day simple moving average of $100.43. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. Veralto has a 1-year low of $83.87 and a 1-year high of $115.00. 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) last announced its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Veralto will post 3.66 earnings per share for the current year.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction 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 in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,889 shares of company stock valued at $3,223,740. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Burling Wealth Partners LLC grew its position in shares of Veralto by 60.2% in the first quarter. Burling Wealth Partners LLC now owns 32,339 shares of the company’s stock valued at $3,151,000 after purchasing an additional 12,151 shares during the last quarter. Bailard Inc. boosted its stake in Veralto by 65.2% during the 1st quarter. Bailard Inc. now owns 3,484 shares of the company’s stock valued at $340,000 after purchasing an additional 1,375 shares during the period. Graypoint LLC grew its holdings in Veralto by 15.7% in the 1st quarter. Graypoint LLC now owns 5,179 shares of the company’s stock valued at $505,000 after buying an additional 704 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Veralto by 17.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 13,457 shares of the company’s stock worth $1,311,000 after buying an additional 2,015 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Veralto by 10.8% during the first quarter. Cullen Frost Bankers Inc. now owns 4,949 shares of the company’s stock worth $482,000 after buying an additional 484 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.