Veralto (NYSE:VLTO) Price Target Raised to $97.00

Veralto (NYSE:VLTO) had its price target lifted by Stifel Nicolaus from $92.00 to $97.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Citigroup boosted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. The Goldman Sachs Group initiated coverage on Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a hold rating and a $79.00 price target for the company. Finally, BNP Paribas initiated coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Price Performance

Shares of NYSE VLTO opened at $88.89 on Wednesday. The stock’s fifty day simple moving average is $87.68 and its 200 day simple moving average is $79.78. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto has a 52-week low of $65.51 and a 52-week high of $92.15.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. Veralto’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%.

Insider Activity at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veralto

A number of institutional investors have recently modified their holdings of VLTO. Vanguard Group Inc. acquired a new position in Veralto in the 4th quarter valued at $2,127,330,000. Capital International Investors bought a new stake in Veralto during the fourth quarter valued at about $538,324,000. Brown Advisory Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at about $528,018,000. Impax Asset Management Group plc bought a new position in shares of Veralto in the fourth quarter worth about $347,827,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Veralto by 2,510.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,326,836 shares of the company’s stock worth $355,926,000 after purchasing an additional 4,161,115 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

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.