Veralto (NYSE:VLTO) Given New $100.00 Price Target at Citigroup

Veralto (NYSE:VLTO) had its target price decreased by Citigroup from $116.00 to $100.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also issued reports on VLTO. Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada cut their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $111.90.

Veralto Trading Up 1.1 %

Veralto stock opened at $90.64 on Monday. Veralto has a 52-week low of $83.87 and a 52-week high of $115.00. The company has a market cap of $22.48 billion, a P/E ratio of 27.14, a P/E/G ratio of 4.24 and a beta of 0.97. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $96.63 and a two-hundred day simple moving average of $102.28.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Analysts predict that Veralto will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is 13.17%.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the completion of the transaction, the chief executive officer now directly owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. The trade was a 8.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total transaction of $57,259.50. Following the transaction, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,471 shares of company stock worth $2,234,030. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in shares of Veralto during the fourth quarter valued at $26,000. BankPlus Trust Department bought a new position in shares of Veralto in the fourth quarter worth about $29,000. Albion Financial Group UT increased its stake in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in Veralto during the 4th quarter valued at about $42,000. Institutional investors own 91.28% of the company’s stock.

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.