Veralto (NYSE:VLTO) Price Target Raised to $110.00

Veralto (NYSE:VLTO) had its price objective hoisted by Stifel Nicolaus from $100.00 to $110.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada restated a sector perform rating and set a $101.00 target price on shares of Veralto in a research report on Friday, June 14th. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 price objective for the company. BMO Capital Markets raised their target price on shares of Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Robert W. Baird boosted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Finally, Citigroup increased their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $97.08.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $98.46 on Thursday. Veralto has a 12 month low of $65.51 and a 12 month high of $102.58. 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’s 50-day moving average price is $98.69 and its two-hundred day moving average price is $90.35.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Veralto will post 3.37 EPS for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, June 28th.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in Veralto in the 4th quarter valued at approximately $2,127,330,000. Capital International Investors bought a new position in shares of Veralto during the 4th quarter worth approximately $538,324,000. Brown Advisory Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $528,018,000. Impax Asset Management Group plc bought a new stake in shares of Veralto in the fourth quarter worth $347,827,000. Finally, Norges Bank acquired a new position in Veralto during the fourth quarter worth $266,143,000. 91.28% of the stock is currently 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.