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

Veralto (NYSE:VLTO - Free Report) had its price target raised by Royal Bank of Canada from $108.00 to $111.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group raised their price target on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. BMO Capital Markets lifted their target price on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. Robert W. Baird boosted their price target on shares of 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 raised their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Monday, July 29th. Finally, TD Cowen upped their target price on Veralto from $95.00 to $100.00 and gave the stock a "hold" rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $108.27.

Veralto Trading Down 1.6 %

Shares of VLTO traded down $1.74 during mid-day trading on Friday, reaching $104.05. The company's stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. Veralto has a 52 week low of $65.51 and a 52 week high of $115.00. The stock has a market cap of $25.68 billion and a PE ratio of 32.62. The company's fifty day moving average price is $110.75 and its two-hundred day moving average price is $102.73. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.30 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. On average, analysts predict that Veralto will post 3.46 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto's payout ratio is 11.29%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the company's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company's stock, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,039 shares of company stock valued at $4,310,335. Company insiders own 0.31% of the company's stock.

Institutional Trading of Veralto

Several institutional investors and hedge funds have recently modified their holdings of VLTO. Goodman Advisory Group LLC bought a new position in Veralto in the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new position in shares of Veralto during the first quarter worth $30,000. Fairscale Capital LLC purchased a new position in Veralto during the second quarter valued at $30,000. Hazlett Burt & Watson Inc. increased its holdings 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 during the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock worth $35,000 after purchasing an additional 270 shares in the last quarter. 91.28% of the stock is currently owned by 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.