Veralto (NYSE:VLTO) Price Target Raised to $119.00

Veralto (NYSE:VLTO) had its target price upped by research analysts at BMO Capital Markets from $117.00 to $119.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 7.22% from the stock’s previous close.

Several other brokerages have also recently weighed in on VLTO. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus raised their target price on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.85.

Veralto Stock Performance

VLTO traded up $0.69 during trading hours on Monday, reaching $110.99. The company’s stock had a trading volume of 451,309 shares, compared to its average volume of 1,564,594. 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 company’s 50-day moving average is $108.15 and its 200-day moving average is $99.65. Veralto has a 52 week low of $65.51 and a 52 week high of $112.77. The firm has a market cap of $27.43 billion and a PE ratio of 33.32.

Veralto (NYSE:VLTO) last released 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. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Veralto will post 3.45 EPS for the current year.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. Insiders sold 25,096 shares of company stock worth $2,772,707 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Goodman Advisory Group LLC purchased a new stake in Veralto during the 2nd quarter worth approximately $26,000. LRI Investments LLC acquired a new position in shares of Veralto in the 1st quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in shares of Veralto during the second quarter worth about $30,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Veralto in the fourth quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds 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.