Brokerages Set Veralto Co. (NYSE:VLTO) Target Price at $95.18

Shares of Veralto Co. (NYSE:VLTO) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $95.18.

Several research analysts have weighed in on the company. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. BNP Paribas initiated coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Finally, Robert W. Baird increased their target price on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th.

Veralto Stock Performance

VLTO stock opened at $93.64 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The business’s fifty day moving average price is $88.86 and its two-hundred day moving average price is $80.74. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $95.56.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts anticipate that Veralto will post 3.34 EPS for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, March 27th.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mattias Bystrom sold 500 shares of Veralto 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 sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Veralto

Hedge funds have recently made changes to their positions in the company. Sugarloaf Wealth Management LLC bought a new position in shares of Veralto during the fourth quarter worth about $25,000. Blue Trust Inc. bought a new position in shares of Veralto during the fourth quarter worth about $26,000. First Command Advisory Services Inc. bought a new position in shares of Veralto during the fourth quarter worth about $25,000. Delta Asset Management LLC TN raised its position in shares of Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Veralto during the fourth quarter worth about $27,000. 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.