Veralto (NYSE:VLTO) Price Target Raised to $119.00

Veralto (NYSE:VLTO) had its price objective increased by Stifel Nicolaus from $117.00 to $119.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, TD Cowen raised their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $108.00.

Veralto Price Performance

Shares of VLTO opened at $113.60 on Wednesday. The firm has a market capitalization of $28.04 billion and a PE ratio of 35.61. The stock’s 50 day moving average is $110.66 and its two-hundred day moving average is $101.97. Veralto has a twelve month low of $65.51 and a twelve month high of $114.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Veralto will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio is presently 11.29%.

Insider Activity at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,039 shares of company stock valued at $4,310,335. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

A number of hedge funds have recently made changes to their positions in the stock. Goodman Advisory Group LLC acquired a new position in Veralto in the second quarter valued at $26,000. Fairscale Capital LLC acquired a new stake in Veralto during the second quarter worth about $30,000. LRI Investments LLC acquired a new position in shares of Veralto in the 1st quarter valued at about $30,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after purchasing an additional 333 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Veralto during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.