Veralto Co. (NYSE:VLTO) Receives $113.50 Average Price Target from Brokerages

Veralto Co. (NYSE:VLTO - Get Free Report) has earned a consensus rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $113.50.

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

Veralto Price Performance

Shares of NYSE VLTO traded down $0.58 during trading hours on Wednesday, reaching $97.56. 2,879,745 shares of the stock traded hands, compared to its average volume of 1,415,486. The company has a market capitalization of $24.15 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto has a 52-week low of $85.91 and a 52-week high of $115.00. The company's 50-day simple moving average is $99.98 and its two-hundred day simple moving average is $104.44. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Equities research analysts forecast that Veralto will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto's dividend payout ratio (DPR) is presently 13.17%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,467 shares of company stock valued at $1,150,366. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new position in Veralto during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Veralto during the 4th quarter valued at $26,000. BankPlus Trust Department purchased a new stake in Veralto in the 4th quarter worth $29,000. Albion Financial Group UT raised its holdings in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after acquiring an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in shares of Veralto in the fourth quarter worth about $42,000. 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.