Veralto (NYSE:VLTO) Stock Rating Reaffirmed by Royal Bank of Canada

Veralto (NYSE:VLTO)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $101.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 0.25% from the company’s current price.

Several other equities research analysts have also recently weighed in on VLTO. Stifel Nicolaus upped 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. The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Citigroup upped 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. BNP Paribas assumed coverage on Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price for the company. Finally, BMO Capital Markets upped their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.09.

Veralto Trading Down 0.3 %

NYSE:VLTO opened at $100.75 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto has a 1 year low of $65.51 and a 1 year high of $102.58. The stock’s 50 day simple moving average is $96.02 and its two-hundred day simple moving average is $87.01.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS 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 analysts’ expectations 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 earnings per share for the current year.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. Company 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 VLTO. Vanguard Group Inc. lifted its holdings in shares of Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after purchasing an additional 1,568,103 shares during the last quarter. Capital International Investors lifted its holdings in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Veralto in the 4th quarter valued at about $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto in the 4th quarter valued at about $347,827,000. Finally, Bank of New York Mellon Corp raised its stake in Veralto by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock valued at $352,700,000 after acquiring an additional 617,441 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

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.