Royal Bank of Canada Issues Pessimistic Forecast for Veralto (NYSE:VLTO) Stock Price

Veralto (NYSE:VLTO) had its price target cut by Royal Bank of Canada from $111.00 to $110.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup dropped their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Stock Performance

Shares of VLTO stock opened at $98.47 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 4.35 and a beta of 1.06. Veralto has a one year low of $79.43 and a one year high of $115.00. The company’s 50-day simple moving average is $103.29 and its 200-day simple moving average is $106.31.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Equities analysts anticipate that Veralto will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

Institutional Trading of Veralto

Hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Veralto in the third quarter worth $25,000. BankPlus Trust Department acquired a new stake in Veralto in the fourth quarter worth about $29,000. Raleigh Capital Management Inc. grew its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Albion Financial Group UT increased its stake in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Veralto during the 4th quarter worth 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.