Veralto (NYSE:VLTO) PT Raised to $112.00 at Robert W. Baird

Veralto (NYSE:VLTO) had its price target lifted by Robert W. Baird from $98.00 to $112.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus increased their target price on shares of Veralto from $100.00 to $110.00 and gave the stock a buy rating in a report on Thursday, July 18th. Royal Bank of Canada reissued a sector perform rating and set a $101.00 price objective on shares of Veralto in a report on Friday, June 14th. BMO Capital Markets boosted their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, April 25th. Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, TD Cowen assumed coverage on Veralto in a research report on Monday, June 17th. They issued a hold rating and a $95.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $103.33.

Veralto Trading Down 0.4 %

VLTO stock opened at $106.60 on Monday. 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 has a market capitalization of $26.34 billion and a PE ratio of 31.75. The firm’s 50-day moving average is $99.39 and its 200 day moving average is $91.72. Veralto has a 12 month low of $65.51 and a 12 month high of $107.86.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Veralto’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Veralto will post 3.43 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%.

Insider Activity

In related news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Honeycutt 13,191 shares of the company’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VLTO. Vanguard Group Inc. increased its position in shares of Veralto by 6.1% during the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after purchasing an additional 1,568,103 shares in the last quarter. Capital International Investors boosted its stake in Veralto by 8.5% during the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $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 during the fourth quarter worth $528,018,000. Impax Asset Management Group plc acquired a new stake in shares of Veralto in the fourth quarter valued at about $347,827,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.