Veralto (NYSE:VLTO) Price Target Raised to $117.00

Veralto (NYSE:VLTO) had its price target upped by Stifel Nicolaus from $110.00 to $117.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on VLTO. TD Cowen began coverage on Veralto in a report on Monday, June 17th. They set a hold rating and a $95.00 price objective for the company. Robert W. Baird increased their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a neutral rating in a report on Monday. Citigroup lifted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Royal Bank of Canada reaffirmed a sector perform rating and set a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Finally, BMO Capital Markets upped their price objective on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of Moderate Buy and a consensus price target of $103.33.

Veralto Price Performance

NYSE VLTO opened at $106.60 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The company has a market cap of $26.34 billion and a PE ratio of 31.75. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86. The firm’s 50-day simple moving average is $99.39 and its two-hundred day simple moving average is $91.72.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. Research analysts predict that Veralto will post 3.43 earnings per share for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, June 28th.

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Honeycutt 13,191 shares of the business’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in shares of Veralto by 3.2% during the first quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock valued at $352,000 after buying an additional 123 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Veralto by 2.7% during the second quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock valued at $516,000 after acquiring an additional 142 shares during the last quarter. Perkins Coie Trust Co boosted its stake in Veralto by 2.2% in the second quarter. Perkins Coie Trust Co now owns 7,128 shares of the company’s stock valued at $680,000 after acquiring an additional 151 shares in the last quarter. Graypoint LLC grew its holdings in Veralto by 3.8% in the second quarter. Graypoint LLC now owns 4,407 shares of the company’s stock worth $421,000 after purchasing an additional 160 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its position in shares of Veralto by 5.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,533 shares of the company’s stock worth $337,000 after purchasing an additional 168 shares in the last quarter. 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.