Veralto (NYSE:VLTO) PT Raised to $100.00

Veralto (NYSE:VLTO) had its price objective increased by stock analysts at TD Cowen from $95.00 to $100.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential downside of 5.71% from the company’s previous close.

Several other brokerages have also recently issued reports on VLTO. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday. Stifel Nicolaus boosted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup lifted their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday. Finally, BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Six investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Veralto Stock Up 0.9 %

VLTO traded up $0.96 during trading hours on Tuesday, reaching $106.06. 354,167 shares of the stock traded hands, compared to its average volume of 1,578,047. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $107.86. The company has a market cap of $26.18 billion and a price-to-earnings ratio of 31.68. 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 firm’s fifty day simple moving average is $99.12 and its two-hundred day simple moving average is $91.40.

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, beating the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Veralto will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the 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 transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VLTO. Orion Portfolio Solutions LLC purchased a new stake in shares of Veralto in the fourth quarter worth about $3,202,000. Factory Mutual Insurance Co. bought a new stake in shares of Veralto in the fourth quarter worth about $9,260,000. Daiwa Securities Group Inc. increased its stake in shares of Veralto by 78.3% during the first quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after buying an additional 35,433 shares during the period. State of Michigan Retirement System purchased a new position in Veralto during the 4th quarter valued at $4,940,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Veralto during the fourth quarter valued at about $79,075,000. Institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

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.