Robert W. Baird Raises Veralto (NYSE:VLTO) Price Target to $98.00

Veralto (NYSE:VLTO) had its price target increased by Robert W. Baird from $90.00 to $98.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently weighed in on VLTO. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price target for the company. Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an outperform rating and a $97.00 price target for the company. Finally, Argus assumed coverage on shares of Veralto in a research note on Tuesday, January 9th. They set a buy rating and a $90.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $95.18.

Veralto Price Performance

Shares of NYSE VLTO opened at $94.12 on Thursday. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $88.53 and a two-hundred day moving average of $80.40.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that Veralto will post 3.3 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. YHB Investment Advisors Inc. boosted its holdings in shares of Veralto by 19.8% in the first quarter. YHB Investment Advisors Inc. now owns 18,433 shares of the company’s stock valued at $1,634,000 after buying an additional 3,051 shares during the period. SYSTM Wealth Solutions LLC lifted its position in shares of Veralto by 11.5% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,450 shares of the company’s stock worth $217,000 after purchasing an additional 253 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Veralto in the first quarter worth $353,000. Verdence Capital Advisors LLC lifted its position in shares of Veralto by 20.1% in the first quarter. Verdence Capital Advisors LLC now owns 14,253 shares of the company’s stock worth $1,264,000 after purchasing an additional 2,382 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Veralto by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock worth $352,700,000 after purchasing an additional 617,441 shares in the last quarter. Institutional investors and hedge funds 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.