Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $96.09

Veralto Co. (NYSE:VLTO) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $96.00.

A number of research analysts have recently commented on VLTO shares. Robert W. Baird raised their target price on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price objective on shares of Veralto in a research report on Friday, June 14th. Stifel Nicolaus raised their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company.

Veralto Trading Up 0.6 %

VLTO opened at $101.22 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The business has a 50 day moving average of $96.78 and a 200-day moving average of $87.54. Veralto has a 52 week low of $65.51 and a 52 week high of $102.58.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Veralto will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed 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. This represents a $0.36 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, June 28th.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of Veralto 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 transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veralto

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

Veralto Company Profile

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.