Veralto Co. (NYSE:VLTO) Given Average Recommendation of “Hold” by Brokerages

Veralto Co. (NYSE:VLTO) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $108.00.

A number of brokerages have commented on VLTO. Stifel Nicolaus raised their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird boosted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th.

Veralto Price Performance

Shares of NYSE:VLTO opened at $105.77 on Friday. The business’s 50 day moving average is $110.91 and its 200-day moving average is $102.60. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $26.11 billion and a PE ratio of 33.16. Veralto has a 1-year low of $65.51 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Sell-side analysts predict that Veralto will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. 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, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, the senior vice president now owns 11,165 shares of the company’s stock, valued at $1,256,620.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,039 shares of company stock valued at $4,310,335. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goodman Advisory Group LLC acquired a new position in shares of Veralto in the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new position in shares of Veralto in the second quarter valued at approximately $30,000. Raleigh Capital Management Inc. increased its position in shares of Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Veralto during the first quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

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.