BMO Capital Markets Boosts Veralto (NYSE:VLTO) Price Target to $119.00

Veralto (NYSE:VLTO) had its price target upped by equities researchers at BMO Capital Markets from $117.00 to $119.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 8.15% from the company’s current price.

Several other research analysts have also commented on VLTO. Royal Bank of Canada upped their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.85.

Veralto Price Performance

Shares of Veralto stock opened at $110.03 on Monday. The stock has a market capitalization of $27.16 billion and a price-to-earnings ratio of 33.62. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The company has a fifty day moving average of $108.59 and a 200-day moving average of $99.98. Veralto has a 52-week low of $65.51 and a 52-week high of $112.77.

Veralto (NYSE:VLTO) last announced its quarterly earnings results 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 business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that Veralto will post 3.45 EPS for the current year.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. 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 firm’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 transaction of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at $1,324,089.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds and other institutional investors have recently made changes to their positions in VLTO. Goodman Advisory Group LLC purchased a new stake in Veralto in the 2nd quarter valued at about $26,000. LRI Investments LLC purchased a new stake in Veralto in the first quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in Veralto in the second quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. purchased a new stake in Veralto in the fourth quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds 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.