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

Shares of Veralto Co. (NYSE:VLTO) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $111.27.

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

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its holdings in Veralto by 32.9% in the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after purchasing an additional 60,300 shares during the period. Nordea Investment Management AB raised its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares in the last quarter. PEAK6 Investments LLC lifted its stake in shares of Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after acquiring an additional 6,211 shares during the period. Northstar Asset Management Inc. boosted its holdings in shares of Veralto by 22.5% in the third quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after acquiring an additional 14,398 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after acquiring an additional 15,048 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 0.3 %

Shares of VLTO opened at $101.91 on Friday. Veralto has a one year low of $73.91 and a one year high of $115.00. The stock has a 50-day moving average price of $104.22 and a 200 day moving average price of $105.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market capitalization of $25.20 billion, a P/E ratio of 31.45, a P/E/G ratio of 4.30 and a beta of 1.06.

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

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

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.