Veralto Co. (NYSE:VLTO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $105.85.

Several research analysts recently weighed in on VLTO shares. TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $110.03 on Wednesday. The business has a fifty day moving average of $108.59 and a 200-day moving average of $99.98. 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 has a twelve month low of $65.51 and a twelve month high of $112.77. The firm has a market cap of $27.16 billion and a PE ratio of 33.62.

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

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the sale, the senior vice president now directly owns 11,918 shares in the company, valued at $1,324,089.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. The disclosure for this sale can be found here. Insiders sold a total of 25,096 shares of company stock valued at $2,772,707 in the last quarter. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veralto

Several hedge funds and other institutional investors have recently made changes to their positions in VLTO. Vanguard Group Inc. lifted its stake in Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors raised 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 period. Bank of New York Mellon Corp raised its holdings in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares during the period. Swedbank AB lifted its stake in Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after purchasing an additional 132,105 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Veralto by 33,575.5% during the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after purchasing an additional 2,512,791 shares during the period. 91.28% of the stock is owned by institutional investors.

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.