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

Veralto Co. (NYSE:VLTO) has earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $108.27.

Several brokerages have recently weighed in on VLTO. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Robert W. Baird upped their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock.

Veralto Stock Up 1.0 %

NYSE VLTO opened at $104.82 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto has a fifty-two week low of $70.06 and a fifty-two week high of $115.00. The business has a 50 day moving average price of $108.95 and a two-hundred day moving average price of $104.00. The stock has a market cap of $25.92 billion and a PE ratio of 32.35.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. Veralto’s dividend payout ratio is currently 11.11%.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veralto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC bought a new position in Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in shares of Veralto during the first quarter valued at approximately $30,000. Fairscale Capital LLC bought a new stake in Veralto during the second quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the period. 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.