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

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $108.27.

Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. The Goldman Sachs Group boosted their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,393,810. This trade represents a 36.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock worth $3,989,693 over the last quarter. Insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in Veralto by 247.8% during the 1st quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock valued at $4,294,000 after buying an additional 34,505 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Veralto by 19.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock valued at $14,952,000 after purchasing an additional 27,891 shares during the period. Seven Eight Capital LP bought a new position in Veralto in the first quarter worth approximately $1,011,000. Canada Pension Plan Investment Board increased its holdings in Veralto by 32.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock worth $23,256,000 after purchasing an additional 60,300 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in Veralto by 126.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 67,670 shares of the company’s stock valued at $6,460,000 after purchasing an additional 37,721 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 0.2 %

Veralto stock opened at $102.84 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto has a 12-month low of $70.47 and a 12-month high of $115.00. The firm has a market capitalization of $25.43 billion and a price-to-earnings ratio of 31.69. The firm has a 50 day moving average of $108.57 and a 200 day moving average of $104.20.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, research analysts predict that Veralto will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is 11.11%.

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.