Analysts Set Veralto Co. (NYSE:VLTO) Price Target at $108.27

Shares of Veralto Co. (NYSE:VLTO) have been given an average rating of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $109.50.

A number of research firms have recently weighed in on VLTO. Royal Bank of Canada increased their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday. They set a “buy” rating and a $125.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. The trade was a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock valued at $1,615,017 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veralto

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Veralto in the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new position in Veralto in the 2nd quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in Veralto in the 2nd quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its holdings in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Stock Down 1.5 %

Shares of NYSE:VLTO opened at $104.22 on Monday. The stock’s 50-day moving average price is $107.02 and its 200-day moving average price is $105.34. Veralto has a 12-month low of $73.91 and a 12-month high of $115.00. The stock has a market capitalization of $25.77 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 4.30 and a beta of 0.91. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts anticipate that Veralto will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s dividend payout ratio is currently 11.11%.

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.