Veralto Co. (NYSE:VLTO) Given Average Rating of “Hold” by Analysts

Shares of Veralto Co. (NYSE:VLTO) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $108.00.

A number of equities analysts have recently commented on VLTO shares. Robert W. Baird increased their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Stifel Nicolaus upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.

Veralto Trading Down 4.7 %

NYSE:VLTO opened at $105.77 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto has a twelve month low of $65.51 and a twelve month high of $115.00. The company has a market cap of $26.11 billion and a P/E ratio of 33.16. The business has a 50 day moving average price of $110.91 and a two-hundred day moving average price of $102.60.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts expect that Veralto will post 3.46 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. Veralto’s payout ratio is presently 11.29%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto 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 completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the transaction, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,039 shares of company stock worth $4,310,335. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several hedge funds have recently bought and sold shares of VLTO. Vanguard Group Inc. boosted its position in shares of Veralto by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares in the last quarter. Capital International Investors boosted its holdings in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Veralto by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after purchasing an additional 200,657 shares during the last quarter. Swedbank AB raised its holdings in shares of Veralto by 4.9% during the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock worth $268,746,000 after buying an additional 132,105 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Veralto by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock worth $142,510,000 after buying an additional 24,246 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

About Veralto

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.