Veralto (NYSE:VLTO) Reaches New 1-Year High at $92.66

Veralto Co. (NYSE:VLTO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $92.66 and last traded at $92.48, with a volume of 192155 shares traded. The stock had previously closed at $91.23.

Analyst Ratings Changes

VLTO has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Citigroup raised their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Argus began coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Stifel Nicolaus raised their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

Veralto Price Performance

The stock has a fifty day moving average of $87.83 and a 200-day moving average of $79.93. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Insider Buying and Selling at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Veralto in the first quarter valued at approximately $4,312,000. Raymond James & Associates bought a new stake in shares of Veralto during the 1st quarter valued at $38,223,000. First Trust Direct Indexing L.P. increased its stake in Veralto by 15.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock worth $270,000 after acquiring an additional 414 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Veralto by 26.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,776 shares of the company’s stock valued at $1,221,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Veralto by 5.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock valued at $53,927,000 after acquiring an additional 34,097 shares during the period. Institutional investors and hedge funds 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.