Veralto Co. (NYSE:VLTO) Receives $110.09 Consensus Target Price from Analysts

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $110.09.

Several equities analysts recently weighed in on the stock. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Robert W. Baird upped their price objective on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Royal Bank of Canada raised their target price on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus upped their price target on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,418 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the transaction, the chief executive officer now owns 106,219 shares of the company’s stock, valued at $10,090,805. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 31,689 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the transaction, the senior vice president now owns 17,434 shares in the company, valued at approximately $1,633,042.78. The trade was a 64.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,578 shares of company stock valued at $6,192,048. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Veralto by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 29,737,470 shares of the company’s stock valued at $2,897,916,000 after buying an additional 390,285 shares in the last quarter. Amundi boosted its stake in shares of Veralto by 2.3% during the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock worth $731,084,000 after buying an additional 158,342 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock valued at $670,781,000 after acquiring an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock valued at $485,304,000 after acquiring an additional 54,795 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Veralto by 9.7% during the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock worth $462,538,000 after acquiring an additional 401,228 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of VLTO opened at $97.07 on Thursday. The business’s 50-day moving average is $94.22 and its 200-day moving average is $99.78. Veralto has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Veralto’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. Equities research analysts expect that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, March 31st. Veralto’s dividend payout ratio is currently 12.57%.

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.