Analysts Set Veralto Co. (NYSE:VLTO) Price Target at $108.27

Shares of Veralto Co. (NYSE:VLTO) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $109.50.

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday. They issued a “buy” rating and a $125.00 price objective on the stock. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus dropped their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,695 shares of company stock worth $1,615,017. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC bought a new position in Veralto in the third quarter valued at $25,000. Goodman Advisory Group LLC bought a new position in Veralto in the second quarter valued at $26,000. Fairscale Capital LLC bought a new position in Veralto in the second quarter valued at $30,000. Hazlett Burt & Watson Inc. increased its stake in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

VLTO stock opened at $104.22 on Monday. The firm has a market cap of $25.77 billion, a PE ratio of 32.17, a P/E/G ratio of 4.30 and a beta of 0.91. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average of $107.02 and a 200-day moving average of $105.34. Veralto has a 12-month low of $73.91 and a 12-month high of $115.00.

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

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

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.