Veralto Corporation (VLTO) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts are moderately bullish on Veralto: Seven of ten brokerages rate VLTO a buy, while three recommend holding; the average 12-month price target is $120.70.
• Veralto beat quarterly expectations, reporting earnings of $1.18 per share versus a $1.09 estimate and revenue of $1.51 billion, up 7.5% year over year.
• Company insiders sold about 55,000 shares worth $6.03 million over the past three months; institutional investors own 91.28% of the stock.

Shares of Veralto Corporation (NYSE:VLTO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $120.70.

VLTO has been the subject of several research reports. BNP Paribas Exane reissued an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Citigroup boosted their target price on shares of Veralto from $107.00 to $120.00 and gave the stock a "neutral" rating in a research note on Monday, November 2nd. Barclays upped their price target on shares of Veralto from $117.00 to $129.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Royal Bank Of Canada increased their price target on Veralto from $109.00 to $121.00 and gave the company a "sector perform" rating in a research note on Monday, November 2nd. Finally, Wall Street Zen downgraded Veralto from a "buy" rating to a "hold" rating in a report on Saturday, October 24th.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 36,427 shares of the company's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $108.89, for a total value of $3,966,536.03. Following the completion of the transaction, the senior vice president owned 8,565 shares of the company's stock, valued at $932,642.85. This represents a 80.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total value of $1,054,724.70. Following the completion of the transaction, the senior vice president directly owned 35,536 shares of the company's stock, valued at $4,132,836.80. This represents a 20.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,094 shares of company stock valued at $6,032,688 over the last three months. Company insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Veralto

Institutional investors have recently added to or reduced their stakes in the business. Arbejdsmarkedets Tillaegspension lifted its position in Veralto by 23.4% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 291,695 shares of the company's stock valued at $25,792,000 after acquiring an additional 55,348 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Veralto by 9.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 219,254 shares of the company's stock valued at $19,443,000 after purchasing an additional 18,277 shares during the last quarter. Groupe la Francaise increased its holdings in Veralto by 18.4% during the 2nd quarter. Groupe la Francaise now owns 130,703 shares of the company's stock worth $11,594,000 after purchasing an additional 20,294 shares in the last quarter. Formuepleje A S increased its holdings in Veralto by 61.8% during the 2nd quarter. Formuepleje A S now owns 42,528 shares of the company's stock worth $3,771,000 after purchasing an additional 16,240 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Veralto in the second quarter worth approximately $13,887,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Down 0.0%

Shares of NYSE VLTO opened at $117.06 on Monday. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 3.25 and a beta of 0.51. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. Veralto has a 12 month low of $80.03 and a 12 month high of $119.03. The stock has a 50-day moving average price of $100.00 and a two-hundred day moving average price of $93.49.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. As a group, analysts forecast that Veralto will post 4.51 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Veralto's dividend payout ratio is presently 12.87%.

Veralto Company Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging.

Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.

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