Veralto Co. (NYSE:VLTO) Receives $109.50 Average PT from Brokerages

Shares of Veralto Co. (NYSE:VLTO) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $109.50.

Several brokerages recently weighed in on VLTO. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus lowered their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, BMO Capital Markets boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Several institutional investors and hedge funds have recently made changes to their positions in VLTO. Brown Brothers Harriman & Co. increased its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Veralto by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after buying an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after acquiring an additional 100 shares during the period. Strategic Blueprint LLC grew its holdings in shares of Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after purchasing an additional 102 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its holdings in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.4 %

VLTO opened at $101.59 on Friday. Veralto has a twelve month low of $73.91 and a twelve month high of $115.00. The company’s 50-day moving average price is $104.25 and its two-hundred day moving average price is $105.62. The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 4.30 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, equities analysts expect that Veralto will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

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.