Veralto (NYSE:VLTO) Sets New 12-Month High at $92.66

Veralto Co. (NYSE:VLTO) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $92.66 and last traded at $92.48, with a volume of 192155 shares changing hands. The stock had previously closed at $91.23.

Analyst Ratings Changes

VLTO has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. BMO Capital Markets assumed coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

Veralto Price Performance

The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The business’s 50 day simple moving average is $87.83 and its 200 day simple moving average is $79.93.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, research analysts expect that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Veralto

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Veralto in the first quarter valued at approximately $4,312,000. Raymond James & Associates purchased a new position in shares of Veralto in the first quarter valued at approximately $38,223,000. First Trust Direct Indexing L.P. boosted its stake in shares of Veralto by 15.7% in the first quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock valued at $270,000 after purchasing an additional 414 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in shares of Veralto by 26.8% in the first quarter. Azzad Asset Management Inc. ADV now owns 13,776 shares of the company’s stock valued at $1,221,000 after purchasing an additional 2,912 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Veralto by 5.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock worth $53,927,000 after purchasing an additional 34,097 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

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.