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

Veralto Co. (NYSE:VLTO - Get Free Report) has received an average rating of "Hold" from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $108.27.

VLTO has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Stifel Nicolaus lifted their target price on Veralto from $117.00 to $119.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research note on Monday, September 30th. Finally, UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a "neutral" rating and a $118.00 price objective on the stock.

Veralto Stock Up 0.2 %

Shares of VLTO stock traded up $0.24 during trading hours on Monday, hitting $106.77. 1,050,779 shares of the company were exchanged, compared to its average volume of 1,519,262. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The business's 50-day simple moving average is $107.58 and its two-hundred day simple moving average is $105.16. Veralto has a one year low of $73.91 and a one year high of $115.00. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 4.39 and a beta of 0.91.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $0.75 EPS. The company's quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Veralto will post 3.48 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.34%. The ex-dividend date of this dividend was Friday, September 27th. Veralto's payout ratio is presently 11.11%.

Insider Buying and Selling at Veralto

In other Veralto news, 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 transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veralto

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Veralto by 22.7% during the 2nd quarter. CWM LLC now owns 5,795 shares of the company's stock worth $553,000 after purchasing an additional 1,072 shares during the last quarter. Simplicity Wealth LLC boosted its position in shares of Veralto by 6.2% in the second quarter. Simplicity Wealth LLC now owns 5,281 shares of the company's stock valued at $504,000 after acquiring an additional 309 shares during the period. QRG Capital Management Inc. grew its stake in shares of Veralto by 14.6% in the second quarter. QRG Capital Management Inc. now owns 21,361 shares of the company's stock worth $2,039,000 after acquiring an additional 2,716 shares during the last quarter. Czech National Bank increased its position in Veralto by 8.5% during the second quarter. Czech National Bank now owns 41,864 shares of the company's stock worth $3,997,000 after acquiring an additional 3,279 shares during the period. Finally, RFG Advisory LLC raised its stake in Veralto by 7.8% during the 2nd quarter. RFG Advisory LLC now owns 4,682 shares of the company's stock valued at $447,000 after purchasing an additional 340 shares during the last quarter. Institutional investors 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.