Veralto (NYSE:VLTO) PT Raised to $108.00 at Royal Bank of Canada

Veralto (NYSE:VLTO) had its price target boosted by Royal Bank of Canada from $101.00 to $108.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 1.96% from the company’s current price.

VLTO has been the subject of several other research reports. TD Cowen initiated coverage on Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 target price for the company. Stifel Nicolaus upped their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets increased their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Robert W. Baird increased their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.42.

Veralto Price Performance

Shares of VLTO traded up $1.05 during midday trading on Monday, hitting $105.92. 666,985 shares of the company traded hands, compared to its average volume of 1,575,655. The stock has a 50-day moving average of $98.99 and a 200-day moving average of $91.19. Veralto has a one year low of $65.51 and a one year high of $107.86. The firm has a market cap of $26.15 billion and a P/E ratio of 31.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Veralto’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Veralto will post 3.43 EPS for the current fiscal year.

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of institutional investors have recently modified their holdings of VLTO. Vanguard Group Inc. purchased a new stake in shares of Veralto during the fourth quarter valued at $2,127,330,000. Capital International Investors purchased a new stake in shares of Veralto during the fourth quarter valued at $538,324,000. Brown Advisory Inc. purchased a new stake in shares of Veralto during the fourth quarter valued at $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the fourth quarter valued at $347,827,000. Finally, Norges Bank purchased a new stake in shares of Veralto during the fourth quarter valued at $266,143,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.