Veralto (NYSE:VLTO) Stock Gets Price Target Increase from Royal Bank Of Canada

Veralto (NYSE:VLTO) had its price objective lifted by Royal Bank Of Canada from $109.00 to $121.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 4.76% from the company’s current price.

A number of other brokerages also recently issued reports on VLTO. Wolfe Research began coverage on shares of Veralto in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price target on the stock. Barclays raised their price objective on shares of Veralto from $113.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. BNP Paribas Exane restated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Veralto in a report on Thursday, July 30th. Stifel Nicolaus increased their target price on shares of Veralto from $113.00 to $132.00 and gave the company a “buy” rating in a research report on Monday. Finally, Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.20.

Veralto Price Performance

Veralto stock traded up $4.40 during trading hours on Monday, reaching $115.50. 730,017 shares of the stock were exchanged, compared to its average volume of 1,966,369. Veralto has a twelve month low of $80.03 and a twelve month high of $115.75. The company has a market cap of $28.16 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 3.08 and a beta of 0.62. The company has a current ratio of 1.78, a quick ratio of 1.61 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $98.23 and a two-hundred day moving average of $93.13.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.54% and a net margin of 17.27%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities analysts expect that Veralto will post 4.51 EPS for the current fiscal year.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 7,098 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the sale, the chief executive officer owned 120,060 shares in the company, valued at approximately $12,606,300. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Surekha Trivedi sold 986 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $97.05, for a total transaction of $95,691.30. Following the sale, the senior vice president owned 8,565 shares of the company’s stock, valued at $831,233.25. This represents a 10.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC raised its holdings in Veralto by 36.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 15,475 shares of the company’s stock worth $1,460,000 after purchasing an additional 4,125 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Veralto by 49.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,113 shares of the company’s stock worth $533,000 after purchasing an additional 1,701 shares in the last quarter. Rakuten Investment Management Inc. grew its stake in shares of Veralto by 9.2% in the third quarter. Rakuten Investment Management Inc. now owns 43,876 shares of the company’s stock worth $4,241,000 after acquiring an additional 3,708 shares during the last quarter. AIA Group Ltd grew its position in Veralto by 119.1% during the 3rd quarter. AIA Group Ltd now owns 12,174 shares of the company’s stock valued at $1,148,000 after purchasing an additional 6,618 shares during the last quarter. Finally, Provenance Wealth Advisors LLC increased its position in shares of Veralto by 997.4% during the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after acquiring an additional 389 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.