Royal Bank of Canada Raises Veralto (NYSE:VLTO) Price Target to $111.00

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

A number of other research firms have also issued reports on VLTO. The Goldman Sachs Group boosted their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their target price 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. Finally, TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto currently has an average rating of “Hold” and a consensus price target of $108.27.

Veralto Trading Down 1.6 %

Shares of VLTO opened at $104.05 on Friday. The firm has a market cap of $25.68 billion and a P/E ratio of 32.62. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The business has a 50-day moving average of $110.75 and a 200 day moving average of $102.83.

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

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto’s dividend payout ratio is presently 11.29%.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,393,810. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,039 shares of company stock worth $3,992,665 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Goodman Advisory Group LLC purchased a new position in Veralto in the 2nd quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto in the second quarter worth $30,000. Raleigh Capital Management Inc. raised its holdings in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the last quarter. LRI Investments LLC purchased a new stake in Veralto during the 1st quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares during the period. Hedge funds and other 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.