Veralto Co. (NYSE:VLTO) Given Consensus Recommendation of "Hold" by Analysts

Shares of Veralto Co. (NYSE:VLTO - Get Free Report) have received a consensus rating of "Hold" from the eleven analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $112.55.

Several brokerages have issued reports on VLTO. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Finally, Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They issued a "buy" rating and a $125.00 target price on the stock.

Veralto Trading Up 0.5 %

NYSE VLTO opened at $98.21 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto has a 12 month low of $85.70 and a 12 month high of $115.00. The stock has a market cap of $24.29 billion, a P/E ratio of 29.41, a P/E/G ratio of 4.24 and a beta of 1.06. The stock's fifty day moving average price is $101.54 and its 200-day moving average price is $105.93.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, equities analysts forecast that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.11 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. This is an increase from Veralto's previous quarterly dividend of $0.09. Veralto's dividend payout ratio (DPR) is 13.17%.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company's stock.

Institutional Trading of Veralto

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments LLC raised its stake in Veralto by 246.3% during the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock valued at $977,000 after purchasing an additional 6,211 shares during the period. Nordea Investment Management AB raised its stake in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. Park Avenue Securities LLC raised its stake in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after purchasing an additional 2,676 shares during the period. The Manufacturers Life Insurance Company raised its stake in Veralto by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company's stock valued at $18,259,000 after purchasing an additional 15,048 shares during the period. Finally, Czech National Bank raised its stake in Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after purchasing an additional 3,284 shares during the period. Institutional investors 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.

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