Veralto Co. (NYSE:VLTO) Receives $109.50 Consensus Target Price from Analysts

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $109.50.

Several equities analysts have weighed in on VLTO shares. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus lowered their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th.

Veralto Stock Up 0.2 %

VLTO stock opened at $100.80 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The firm has a market capitalization of $24.93 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.30 and a beta of 1.06. Veralto has a 52-week low of $73.91 and a 52-week high of $115.00. The company’s 50 day simple moving average is $104.35 and its 200-day simple moving average is $105.56.

Veralto (NYSE:VLTO) last announced its 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 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.75 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Veralto will post 3.48 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio is currently 13.58%.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State Street Corp raised its stake in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after buying an additional 558,393 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Veralto by 29.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock worth $208,511,000 after buying an additional 418,588 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Veralto by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock valued at $273,906,000 after acquiring an additional 314,412 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.