Veralto (NYSE:VLTO) Given New $98.00 Price Target at Robert W. Baird

Veralto (NYSE:VLTO) had its price objective hoisted by Robert W. Baird from $90.00 to $98.00 in a report released on Thursday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on VLTO. Stifel Nicolaus increased their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on shares of Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 price target on the stock. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, BMO Capital Markets began coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an outperform rating and a $97.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $95.18.

Veralto Price Performance

Veralto stock opened at $93.79 on Thursday. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The firm has a 50 day simple moving average of $88.37 and a 200-day simple moving average of $80.23. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The business also recently declared 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 0.38%. The ex-dividend date is Wednesday, March 27th.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

Institutional investors have recently added to or reduced their stakes in the company. Factory Mutual Insurance Co. bought a new position in Veralto during the 4th quarter valued at about $9,260,000. State of Michigan Retirement System acquired a new stake in Veralto in the 4th quarter valued at about $4,940,000. Asset Management One Co. Ltd. acquired a new stake in Veralto in the 4th quarter valued at about $7,944,000. Vontobel Holding Ltd. acquired a new stake in Veralto in the 4th quarter valued at about $60,495,000. Finally, LS Investment Advisors LLC acquired a new stake in Veralto in the 4th quarter valued at about $1,660,000. 91.28% of the stock is 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.