Veralto (NYSE:VLTO) Price Target Lowered to $116.00 at Citigroup

Veralto (NYSE:VLTO - Free Report) had its price objective decreased by Citigroup from $118.00 to $116.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Veralto from $119.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. BMO Capital Markets raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a report on Monday, September 30th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a "buy" rating and a $125.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Veralto presently has an average rating of "Hold" and an average target price of $113.27.

Veralto Stock Performance

Veralto stock traded up $1.03 during mid-day trading on Monday, hitting $101.13. 1,370,247 shares of the company's stock traded hands, compared to its average volume of 1,198,501. Veralto has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 4.30 and a beta of 1.06. The firm has a 50 day simple moving average of $104.19 and a two-hundred day simple moving average of $105.67. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Veralto will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Tuesday, December 31st. This is a boost from Veralto's previous quarterly dividend of $0.09. Veralto's dividend payout ratio (DPR) is 13.58%.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VLTO. Brown Brothers Harriman & Co. lifted its holdings in Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock valued at $431,000 after purchasing an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Veralto by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company's stock worth $821,000 after buying an additional 100 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company's stock worth $268,000 after buying an additional 102 shares in the last quarter. Insigneo Advisory Services LLC grew its position in Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company's stock worth $645,000 after buying an additional 103 shares in the last quarter. Finally, Graypoint LLC boosted its position in shares of Veralto by 2.4% during the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company's stock valued at $505,000 after acquiring an additional 107 shares during the last quarter. 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.