Brokerages Set Veralto Co. (NYSE:VLTO) PT at $108.00

Veralto Co. (NYSE:VLTO - Get Free Report) has received a consensus recommendation of "Hold" from the twelve analysts that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $108.00.

VLTO has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a research note on Monday, July 29th. TD Cowen boosted their price target on Veralto from $95.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, July 30th. BMO Capital Markets boosted their price target on Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. Stifel Nicolaus boosted their price target on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on Veralto from $101.00 to $108.00 and gave the company a "sector perform" rating in a research note on Monday, July 29th.

Veralto Stock Performance

Shares of NYSE VLTO traded up $0.57 during trading hours on Friday, hitting $113.60. 3,872,187 shares of the company's stock were exchanged, compared to its average volume of 1,652,812. Veralto has a 1-year low of $65.51 and a 1-year high of $114.61. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market capitalization of $28.04 billion and a price-to-earnings ratio of 35.61. The company's 50-day moving average price is $110.66 and its 200-day moving average price is $102.18.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping 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 analysts' expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. The firm's revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Veralto will post 3.46 earnings per share for the current fiscal year.

Veralto Announces Dividend

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 given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. Veralto's dividend payout ratio (DPR) is presently 11.29%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company's 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 transaction, the senior vice president now owns 12,671 shares of the company's stock, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the company's 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock worth $4,310,335 in the last three months. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its stake in Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company's stock worth $7,151,000 after buying an additional 35,433 shares during the period. Cetera Investment Advisers raised its stake in Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company's stock worth $4,294,000 after buying an additional 34,505 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in Veralto by 19.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company's stock worth $14,952,000 after buying an additional 27,891 shares during the period. Seven Eight Capital LP acquired a new stake in Veralto during the 1st quarter worth $1,011,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Veralto during the 1st quarter worth $2,372,000. Institutional investors and hedge funds own 91.28% of the company's stock.

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.