BMO Capital Markets Boosts Veralto (NYSE:VLTO) Price Target to $101.00

Veralto (NYSE:VLTO) had its price objective raised by BMO Capital Markets from $97.00 to $101.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 price objective on the stock. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Argus initiated coverage on Veralto in a research note on Tuesday, January 9th. They set a buy rating and a $90.00 price target on the stock. Finally, Robert W. Baird raised their price target on Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research report on Thursday. Five 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 company has a consensus rating of Moderate Buy and an average target price of $95.18.

Veralto Price Performance

VLTO opened at $94.12 on Thursday. Veralto has a one year low of $65.51 and a one year high of $95.40. The business’s 50 day moving average price is $88.53 and its 200 day moving average price is $80.40. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Veralto will post 3.3 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction on Friday, February 16th. The stock was 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 directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Factory Mutual Insurance Co. acquired a new stake in Veralto in the fourth quarter valued at $9,260,000. State of Michigan Retirement System acquired a new stake in Veralto in the fourth quarter valued at $4,940,000. Asset Management One Co. Ltd. acquired a new stake in Veralto in the fourth quarter valued at $7,944,000. Vontobel Holding Ltd. acquired a new stake in Veralto in the fourth quarter valued at $60,495,000. Finally, OLD National Bancorp IN acquired a new stake in Veralto in the fourth quarter valued at $876,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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.