Veralto (NYSE:VLTO) Price Target Lowered to $100.00 at Citigroup

Veralto (NYSE:VLTO - Get Free Report) had its price target dropped by Citigroup from $116.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential upside of 11.62% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada decreased their price objective on Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Veralto has an average rating of "Hold" and an average target price of $111.10.

Veralto Stock Up 0.3 %

Shares of VLTO stock traded up $0.26 during mid-day trading on Monday, hitting $89.59. The stock had a trading volume of 1,691,548 shares, compared to its average volume of 1,488,770. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $22.22 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The firm's 50-day moving average is $95.86 and its two-hundred day moving average is $101.81. Veralto has a 12-month low of $83.87 and a 12-month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Veralto will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the company'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 value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,471 shares of company stock worth $2,234,030. 0.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veralto

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