Stifel Nicolaus Increases Veralto (NYSE:VLTO) Price Target to $97.00

Veralto (NYSE:VLTO) had its price target increased by analysts at Stifel Nicolaus from $92.00 to $97.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 6.65% from the stock’s current price.

VLTO has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

Veralto Price Performance

Shares of NYSE VLTO traded up $0.06 during mid-day trading on Wednesday, hitting $90.95. 1,500,319 shares of the company traded hands, compared to its average volume of 1,510,952. Veralto has a 1 year low of $65.51 and a 1 year high of $92.15. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The business has a 50 day moving average of $87.23 and a two-hundred day moving average of $79.58.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts predict that Veralto will post 3.26 earnings per share for the current year.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds and other institutional investors have recently bought and sold shares of VLTO. Vanguard Group Inc. acquired a new stake in shares of Veralto in the 4th quarter valued at $2,127,330,000. Capital International Investors acquired a new stake in shares of Veralto in the 4th quarter valued at $538,324,000. Brown Advisory Inc. acquired a new stake in shares of Veralto in the 4th quarter valued at $528,018,000. Price T Rowe Associates Inc. MD increased its stake in shares of Veralto by 2,510.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,326,836 shares of the company’s stock valued at $355,926,000 after buying an additional 4,161,115 shares during the period. Finally, Impax Asset Management Group plc bought a new position in shares of Veralto in the 4th quarter worth $347,827,000. 91.28% of the stock is owned by institutional investors and hedge funds.

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.