Analysts Set Veralto Co. (NYSE:VLTO) Price Target at $108.27

Veralto Co. (NYSE:VLTO - Get Free Report) has been given a consensus rating of "Hold" by the twelve ratings firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $108.27.

A number of equities analysts have recently issued reports on the stock. Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veralto from $100.00 to $109.00 and gave the company a "hold" rating in a research report on Monday, July 29th. BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a "buy" rating in a report on Monday, July 29th.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company's stock, valued at $1,393,810. This represents a 36.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm's stock in a transaction dated 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 directly owns 138,546 shares of the company's stock, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VLTO. Vanguard Group Inc. grew its position in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company's stock worth $2,431,869,000 after purchasing an additional 1,568,103 shares during the period. Capital International Investors lifted its holdings in Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company's stock valued at $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company's stock worth $398,948,000 after purchasing an additional 200,657 shares during the period. FMR LLC raised its position in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company's stock valued at $372,462,000 after purchasing an additional 162,347 shares during the period. Finally, Swedbank AB lifted its stake in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company's stock valued at $268,746,000 after buying an additional 132,105 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Veralto Trading Down 1.7 %

VLTO stock traded down $1.73 during trading on Thursday, hitting $103.11. The company had a trading volume of 1,278,374 shares, compared to its average volume of 1,535,203. The stock has a market cap of $25.50 billion and a PE ratio of 32.35. The business has a 50-day moving average of $108.83 and a 200-day moving average of $104.01. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto has a one year low of $70.06 and a one year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.75 earnings per share. Veralto's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Veralto will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's dividend payout ratio is currently 11.11%.

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.