Veralto (NYSE:VLTO) Price Target Increased to $111.00 by Analysts at Royal Bank of Canada

Veralto (NYSE:VLTO) had its price objective boosted by Royal Bank of Canada from $108.00 to $111.00 in a research note published on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen lifted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.27.

Veralto Stock Performance

Shares of Veralto stock traded down $1.74 during trading hours on Friday, hitting $104.05. 1,538,036 shares of the company’s stock traded hands, compared to its average volume of 1,556,290. The stock has a market capitalization of $25.68 billion and a price-to-earnings ratio of 32.62. Veralto has a 12-month low of $65.51 and a 12-month high of $115.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The company has a fifty day simple moving average of $110.75 and a 200-day simple moving average of $102.73.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. Equities research analysts anticipate that Veralto will post 3.46 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is 11.29%.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 over the last three months. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brookstone Capital Management increased its position in Veralto by 36.4% during the 1st quarter. Brookstone Capital Management now owns 3,559 shares of the company’s stock valued at $316,000 after purchasing an additional 949 shares during the period. Koss Olinger Consulting LLC purchased a new position in Veralto during the first quarter valued at $759,000. Allspring Global Investments Holdings LLC grew its position in shares of Veralto by 31.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,092 shares of the company’s stock worth $1,427,000 after buying an additional 3,820 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Veralto by 5.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock worth $53,927,000 after acquiring an additional 34,097 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its stake in Veralto by 26.8% during the first quarter. Azzad Asset Management Inc. ADV now owns 13,776 shares of the company’s stock worth $1,221,000 after acquiring an additional 2,912 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.