Citigroup Issues Pessimistic Forecast for Veralto (NYSE:VLTO) Stock Price

Veralto (NYSE:VLTO) had its price target trimmed by Citigroup from $116.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus lowered 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, February 6th. Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $111.10.

Veralto Price Performance

NYSE:VLTO opened at $89.43 on Monday. The business’s 50-day simple moving average is $96.27 and its two-hundred day simple moving average is $102.11. Veralto has a 52 week low of $83.87 and a 52 week high of $115.00. The stock has a market cap of $22.18 billion, a PE ratio of 26.78, 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.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, analysts forecast that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 of the company’s stock, valued at approximately $971,567.55. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,471 shares of company stock worth $2,234,030 in the last three months. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of large investors have recently made changes to their positions in VLTO. Savant Capital LLC lifted its stake in Veralto by 0.5% in the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after purchasing an additional 98 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Veralto by 19.4% during the 4th quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after acquiring an additional 101 shares during the last quarter. Quent Capital LLC boosted its holdings in Veralto by 17.3% during the 4th quarter. Quent Capital LLC now owns 699 shares of the company’s stock valued at $71,000 after acquiring an additional 103 shares during the period. Raleigh Capital Management Inc. grew its position in Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after acquiring an additional 109 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Veralto by 1.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,405 shares of the company’s stock worth $652,000 after purchasing an additional 110 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.