Veralto (NYSE:VLTO) Price Target Increased to $111.00 by Analysts at Royal Bank of Canada

by · The Cerbat Gem

Veralto (NYSE:VLTO – Get Free Report) had its target price boosted by equities research analysts at Royal Bank of Canada from $108.00 to $111.00 in a report released on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 6.74% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen increased their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven equities research 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.com, the company has an average rating of “Hold” and a consensus target price of $108.27.

Check Out Our Latest Report on VLTO

Veralto Stock Down 1.7 %

Shares of VLTO stock traded down $1.80 during mid-day trading on Friday, reaching $103.99. 701,485 shares of the company’s stock traded hands, compared to its average volume of 1,552,097. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $110.91 and its 200-day moving average price is $102.60. The company has a market cap of $25.67 billion and a P/E ratio of 32.67. Veralto has a 12 month low of $65.51 and a 12 month high of $115.00.

Veralto (NYSE:VLTO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.60% and a return on equity of 58.82%. 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 prior year, the company earned $0.75 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Veralto will post 3.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,039 shares of company stock worth $4,310,335. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB bought a new position in Veralto in the 1st quarter worth approximately $237,864,000. Vanguard Group Inc. boosted its position in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors grew its stake in Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after acquiring an additional 553,021 shares in the last quarter. Nordea Investment Management AB increased its holdings in Veralto by 753.8% in the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock valued at $47,154,000 after acquiring an additional 465,312 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in Veralto in the 2nd quarter worth $39,343,000. Institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

(Get Free Report)

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.

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