Veralto Co. (NYSE:VLTO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Veralto Co. (NYSE:VLTO) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $96.00.

A number of brokerages have recently issued reports on VLTO. BMO Capital Markets lifted their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. TD Cowen assumed coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price objective on the stock. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

Veralto Trading Up 1.3 %

NYSE:VLTO opened at $97.10 on Friday. The firm’s 50 day moving average is $98.45 and its two-hundred day moving average is $89.53. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $102.58. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Veralto will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.37%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in shares of Veralto during the fourth quarter worth approximately $2,127,330,000. Capital International Investors bought a new stake in Veralto in the 4th quarter valued at $538,324,000. Brown Advisory Inc. bought a new position in shares of Veralto during the 4th quarter worth about $528,018,000. Impax Asset Management Group plc acquired a new stake in shares of Veralto during the 4th quarter valued at about $347,827,000. Finally, Norges Bank bought a new stake in Veralto in the fourth quarter valued at about $266,143,000. 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.