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

Shares of Veralto Co. (NYSE:VLTO) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $113.18.

Several analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada boosted their target price 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. Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of institutional investors and hedge funds have recently bought and sold shares of VLTO. Public Sector Pension Investment Board raised its holdings in shares of Veralto by 61.4% in the second quarter. Public Sector Pension Investment Board now owns 4,934 shares of the company’s stock valued at $471,000 after purchasing an additional 1,877 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Veralto by 53.8% during the second quarter. AQR Capital Management LLC now owns 112,233 shares of the company’s stock valued at $10,715,000 after acquiring an additional 39,256 shares during the last quarter. MBB Public Markets I LLC bought a new stake in Veralto during the second quarter worth $1,620,000. Northwestern Mutual Wealth Management Co. boosted its position in Veralto by 123.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,326 shares of the company’s stock worth $318,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Quarry LP grew its stake in Veralto by 65.9% in the 2nd quarter. Quarry LP now owns 1,553 shares of the company’s stock valued at $148,000 after purchasing an additional 617 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Up 1.5 %

Shares of VLTO opened at $103.25 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto has a 52 week low of $75.05 and a 52 week high of $115.00. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 4.31 and a beta of 1.06. The stock has a fifty day moving average of $103.97 and a 200-day moving average of $106.16.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is currently 13.58%.

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.