Veralto (VLTO) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Veralto (NYSE: VLTO) in the last few weeks:

• 8/13/2024 – Veralto is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $118.00 price target on the stock.
• 7/30/2024 – Veralto had its price target raised by analysts at TD Cowen from $95.00 to $100.00. They now have a “hold” rating on the stock.
• 7/29/2024 – Veralto had its price target raised by analysts at Royal Bank of Canada from $101.00 to $108.00. They now have a “sector perform” rating on the stock.
• 7/29/2024 – Veralto had its price target raised by analysts at Robert W. Baird from $98.00 to $112.00. They now have a “neutral” rating on the stock.
• 7/29/2024 – Veralto had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $109.00. They now have a “hold” rating on the stock.
• 7/29/2024 – Veralto had its price target raised by analysts at The Goldman Sachs Group, Inc. from $104.00 to $116.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Veralto had its price target raised by analysts at Stifel Nicolaus from $110.00 to $117.00. They now have a “buy” rating on the stock.
• 7/18/2024 – Veralto had its price target raised by analysts at Stifel Nicolaus from $100.00 to $110.00. They now have a “buy” rating on the stock.
• 6/17/2024 – Veralto is now covered by analysts at TD Cowen. They set a “hold” rating and a $95.00 price target on the stock.
• 6/14/2024 – Veralto had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $101.00 price target on the stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.18 on Tuesday, hitting $106.67. The company’s stock had a trading volume of 71,185 shares, compared to its average volume of 1,567,380. The company has a market capitalization of $26.36 billion and a price-to-earnings ratio of 32.05. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $107.86. The stock’s 50-day moving average is $100.22 and its two-hundred day moving average is $93.43.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. On average, equities research analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

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

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, 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 accessible through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Insiders sold 4,055 shares of company stock valued at $428,345 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Veralto

Hedge funds have recently bought and sold shares of the company. First Command Advisory Services Inc. purchased a new position in shares of Veralto in the fourth quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Veralto in the 1st quarter worth approximately $30,000. Delta Asset Management LLC TN grew its holdings in shares of Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Veralto during the fourth quarter valued at $27,000. Finally, Johnson Financial Group Inc. purchased a new stake in Veralto in the 4th quarter worth about $27,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.