Veralto Co. (NYSE:VLTO - Get Free Report) fell 5.2% on Wednesday . The company traded as low as $96.26 and last traded at $95.76. 591,230 shares were traded during trading, a decline of 55% from the average session volume of 1,301,197 shares. The stock had previously closed at $100.98.
Analyst Ratings Changes
Several research firms have issued reports on VLTO. Citigroup cut their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a report on Thursday. Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $112.55.
Check Out Our Latest Research Report on VLTO
Veralto Stock Up 0.4 %
The firm's 50-day moving average price is $102.92 and its 200 day moving average price is $106.29. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $24.45 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 4.21 and a beta of 1.06.
Veralto (NYSE:VLTO - Get Free Report) last released its 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 return on equity of 49.29% and a net margin of 16.04%. On average, sell-side analysts forecast that Veralto Co. will post 3.63 EPS for the current fiscal year.
Veralto Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. This is an increase from Veralto's previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto's payout ratio is presently 13.17%.
Institutional Investors Weigh In On Veralto
A number of hedge funds have recently made changes to their positions in VLTO. Mather Group LLC. lifted its stake in Veralto by 55.8% in the 3rd quarter. Mather Group LLC. now owns 888 shares of the company's stock valued at $99,000 after purchasing an additional 318 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Veralto by 8.9% in the 3rd quarter. Brookstone Capital Management now owns 3,240 shares of the company's stock valued at $362,000 after acquiring an additional 266 shares during the last quarter. CWM LLC boosted its holdings in shares of Veralto by 5.9% during the 3rd quarter. CWM LLC now owns 6,138 shares of the company's stock valued at $687,000 after acquiring an additional 343 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Veralto by 524.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,024 shares of the company's stock worth $227,000 after acquiring an additional 1,700 shares during the last quarter. Finally, CHICAGO TRUST Co NA acquired a new position in Veralto in the 3rd quarter worth about $204,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Veralto Company Profile
(
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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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