Brokerages Set Veralto Co. (NYSE:VLTO) PT at $108.27

Shares of Veralto Co. (NYSE:VLTO) have received an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $108.09.

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock worth $1,615,017 in the last three months. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of large investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. lifted its stake in shares of Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after acquiring an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC grew its holdings in shares of Veralto by 4.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after acquiring an additional 102 shares during the period. Finally, Insigneo Advisory Services LLC increased its stake in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Price Performance

VLTO stock opened at $105.39 on Monday. The business has a 50 day moving average price of $107.29 and a 200 day moving average price of $105.24. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock has a market cap of $26.06 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 4.39 and a beta of 0.91. Veralto has a fifty-two week low of $73.91 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 business 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%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. Equities research analysts anticipate that Veralto will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is presently 11.11%.

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.