Veralto Co. (NYSE:VLTO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $103.33.

VLTO has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price target on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,055 shares of company stock worth $428,345. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at $26,000. DAVENPORT & Co LLC acquired a new stake in shares of Veralto in the fourth quarter valued at $686,000. Arizona State Retirement System acquired a new stake in shares of Veralto in the fourth quarter valued at $5,290,000. Private Trust Co. NA acquired a new stake in shares of Veralto in the fourth quarter valued at $222,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Veralto in the fourth quarter valued at $7,944,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of Veralto stock opened at $106.10 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $100.07 and its two-hundred day moving average price is $93.00. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86. The stock has a market cap of $26.22 billion and a PE ratio of 31.46.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. The firm 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%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Veralto will post 3.45 EPS for the current fiscal year.

Veralto Announces Dividend

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

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.