Veralto (NYSE:VLTO) Given New $110.00 Price Target at Royal Bank of Canada

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

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

Veralto Stock Up 2.8 %

VLTO opened at $98.47 on Thursday. Veralto has a 12 month low of $79.43 and a 12 month high of $115.00. The business has a 50-day moving average of $103.29 and a two-hundred day moving average of $106.31. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 4.35 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. On average, research analysts expect that Veralto will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. PEAK6 Investments LLC increased its position in shares of Veralto by 246.3% during the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after acquiring an additional 6,211 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after acquiring an additional 2,676 shares in the last quarter. Czech National Bank boosted its holdings in Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after purchasing an additional 3,284 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Veralto by 15.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock valued at $1,438,000 after purchasing an additional 1,889 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

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.