Veralto (NYSE:VLTO) Reaches New 1-Year High at $97.76

Shares of Veralto Co. (NYSE:VLTO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.76 and last traded at $97.76, with a volume of 1794 shares trading hands. The stock had previously closed at $95.89.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VLTO shares. Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Argus started coverage on shares of Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, BNP Paribas started 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.18.

Veralto Stock Performance

The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The company’s 50-day simple moving average is $89.79 and its two-hundred day simple moving average is $81.57.

Veralto (NYSE:VLTO) last posted its quarterly 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Veralto Co. will post 3.34 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction on 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 owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were 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 in the company, valued at approximately $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veralto

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of Veralto in the fourth quarter worth approximately $2,127,330,000. Capital International Investors purchased a new stake in Veralto in the fourth quarter worth $538,324,000. Brown Advisory Inc. bought a new stake in shares of Veralto during the fourth quarter worth $528,018,000. Impax Asset Management Group plc bought a new stake in shares of Veralto during the fourth quarter worth $347,827,000. Finally, Norges Bank purchased a new stake in shares of Veralto during the fourth quarter valued at $266,143,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.