Veralto (NYSE:VLTO) PT Raised to $112.00

Veralto (NYSE:VLTO) had its price objective raised by Robert W. Baird from $98.00 to $112.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Citigroup boosted their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Royal Bank of Canada reissued a sector perform rating and issued a $101.00 price objective on shares of Veralto in a research note on Friday, June 14th. BMO Capital Markets boosted their price objective 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. TD Cowen started coverage on shares of Veralto in a research note on Monday, June 17th. They issued a hold rating and a $95.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Veralto from $100.00 to $110.00 and gave the company a buy rating in a research note on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $103.33.

Veralto Stock Performance

Shares of Veralto stock opened at $106.70 on Monday. The firm’s fifty day simple moving average is $99.52 and its 200-day simple moving average is $91.83. The stock has a market capitalization of $26.37 billion and a price-to-earnings ratio of 32.34. 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 1.56, a current ratio of 1.96 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last announced its earnings results 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 analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities analysts forecast that Veralto will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jennifer Honeycutt 13,191 shares of the business’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Veralto news, insider Jennifer Honeycutt 13,191 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently added to or reduced their stakes in VLTO. Rhumbline Advisers increased its stake in shares of Veralto by 19.8% during the 2nd quarter. Rhumbline Advisers now owns 491,109 shares of the company’s stock valued at $46,886,000 after acquiring an additional 81,226 shares during the last quarter. YHB Investment Advisors Inc. increased its position in Veralto by 3.2% during the second quarter. YHB Investment Advisors Inc. now owns 19,027 shares of the company’s stock worth $1,817,000 after purchasing an additional 594 shares during the last quarter. Rice Partnership LLC increased its position in Veralto by 11.1% during the second quarter. Rice Partnership LLC now owns 3,637 shares of the company’s stock worth $347,000 after purchasing an additional 364 shares during the last quarter. Knuff & Co LLC increased its position in Veralto by 23.4% during the second quarter. Knuff & Co LLC now owns 4,847 shares of the company’s stock worth $463,000 after purchasing an additional 920 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new position in Veralto during the second quarter worth approximately $215,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.