Royal Bank of Canada Reaffirms Sector Perform Rating for Veralto (NYSE:VLTO)

Royal Bank of Canada reissued their sector perform rating on shares of Veralto (NYSE:VLTO) in a report released on Friday, Benzinga reports. The firm currently has a $101.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 target price for the company. Stifel Nicolaus boosted their price target on Veralto from $92.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets raised their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $96.09.

Veralto Trading Down 0.3 %

NYSE VLTO opened at $100.75 on Friday. The business’s 50-day moving average price is $96.02 and its two-hundred day moving average price is $87.10. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto has a 12 month low of $65.51 and a 12 month high of $102.58.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that Veralto will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Institutional Trading of Veralto

A number of institutional investors and hedge funds have recently modified their holdings of VLTO. Sugarloaf Wealth Management LLC bought a new position in Veralto in the 4th quarter valued at $25,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $25,000. Blue Trust Inc. bought a new position in Veralto during the fourth quarter valued at about $26,000. Delta Asset Management LLC TN increased its holdings in Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the last quarter. Finally, Dougherty Wealth Advisers LLC bought a new stake in Veralto in the fourth quarter worth about $27,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.