The Goldman Sachs Group Raises Veralto (NYSE:VLTO) Price Target to $116.00

Veralto (NYSE:VLTO) had its price objective boosted by The Goldman Sachs Group from $104.00 to $116.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen began coverage on shares of Veralto in a research report on Monday, June 17th. They issued a hold rating and a $95.00 target price on the stock. Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the stock a buy rating in a research report on Monday. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. BMO Capital Markets lifted their price target on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Finally, Robert W. Baird increased their price objective on Veralto from $98.00 to $112.00 and gave the company a neutral rating in a report on Monday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $103.33.

Veralto Stock Performance

NYSE:VLTO opened at $106.60 on Monday. Veralto has a 12 month low of $65.51 and a 12 month high of $107.86. 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 has a market capitalization of $26.34 billion and a PE ratio of 31.75. The business’s fifty day moving average price is $99.39 and its 200 day moving average price is $91.72.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that Veralto will post 3.43 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Honeycutt 13,191 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mattias Bystrom sold 302 shares of the business’s 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 sale, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Large investors have recently modified their holdings of the business. First Command Advisory Services Inc. purchased a new stake in Veralto in the 4th quarter valued at approximately $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at $26,000. Delta Asset Management LLC TN boosted its stake 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 acquiring an additional 216 shares during the last quarter. Dougherty Wealth Advisers LLC purchased a new stake in Veralto during the 4th quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Veralto in the 4th quarter valued at about $27,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.