Veralto Co. (NYSE:VLTO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $113.50.

Several research analysts recently issued reports on VLTO shares. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company.

Insider Transactions at Veralto

In other news, SVP Melissa Aquino sold 463 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,467 shares of company stock valued at $1,150,366. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Several hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. bought a new position in Veralto in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in Veralto in the fourth quarter valued at approximately $29,000. Albion Financial Group UT boosted its stake in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Veralto in the fourth quarter valued at approximately $42,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Up 0.0 %

Shares of VLTO opened at $98.47 on Wednesday. The company has a 50-day simple moving average of $100.16 and a 200-day simple moving average of $104.62. The firm has a market capitalization of $24.38 billion, a P/E ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto has a 52 week low of $85.91 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities research analysts expect that Veralto will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto’s payout ratio is 13.17%.

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.