Veralto Co. (NYSE:VLTO) Given Consensus Recommendation of “Hold” by Brokerages

Veralto Co. (NYSE:VLTO) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $108.27.

A number of research analysts have recently commented on the company. BMO Capital Markets upped their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Stifel Nicolaus increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company.

Veralto Stock Up 1.2 %

Shares of Veralto stock opened at $106.53 on Monday. Veralto has a 12-month low of $73.91 and a 12-month high of $115.00. The firm has a market capitalization of $26.35 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 4.40 and a beta of 0.91. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock’s fifty day moving average is $107.58 and its 200-day moving average is $105.16.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Equities analysts anticipate that Veralto will post 3.48 earnings per share for the current year.

Veralto Announces Dividend

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

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VLTO. Retirement Systems of Alabama lifted its position in shares of Veralto by 12.7% in the third quarter. Retirement Systems of Alabama now owns 54,633 shares of the company’s stock valued at $6,111,000 after buying an additional 6,170 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Veralto by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 16,534 shares of the company’s stock worth $1,849,000 after buying an additional 1,832 shares during the last quarter. Cim Investment Management Inc. bought a new stake in shares of Veralto during the 3rd quarter worth about $469,000. Wilmington Savings Fund Society FSB grew its stake in Veralto by 48.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 28,583 shares of the company’s stock valued at $3,197,000 after buying an additional 9,382 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Veralto in the 3rd quarter valued at about $202,000. Institutional investors 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.