Northcoast Research Begins Coverage on Veralto (NYSE:VLTO)

Investment analysts at Northcoast Research started coverage on shares of Veralto (NYSE:VLTO - Get Free Report) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $110.00 price target on the stock. Northcoast Research's price objective suggests a potential upside of 14.95% from the stock's previous close.

Several other equities research analysts have also recently weighed in on VLTO. Royal Bank of Canada upped their target price on Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Robert W. Baird increased their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus boosted their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Citigroup dropped their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Veralto presently has a consensus rating of "Hold" and an average target price of $110.09.

Veralto Price Performance

VLTO opened at $95.69 on Tuesday. Veralto has a 52-week low of $83.87 and a 52-week high of $115.00. The stock has a market cap of $23.72 billion, a P/E ratio of 28.65, a PEG ratio of 4.24 and a beta of 0.99. The business has a fifty day moving average of $94.45 and a 200 day moving average of $100.13. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 EPS 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 analyst estimates of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. As a group, sell-side analysts anticipate that Veralto will post 3.66 EPS for the current year.

Insider Buying and Selling at Veralto

In related news, SVP Melissa Aquino sold 31,689 shares of the firm's stock in a transaction on 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 sale, the senior vice president now owns 17,434 shares in the company, valued at approximately $1,633,042.78. This trade represents a 64.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares of the company's stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,578 shares of company stock valued at $6,192,048. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new position in Veralto during the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new position in shares of Veralto during the 4th quarter worth about $26,000. BankPlus Trust Department purchased a new position in Veralto in the 4th quarter valued at about $29,000. Albion Financial Group UT boosted its holdings in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after buying an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto during the 4th quarter worth approximately $42,000. 91.28% of the stock is owned by institutional investors and hedge funds.

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.

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