Veralto (NYSE:VLTO) Sets New 1-Year High at $90.71

Veralto Co. (NYSE:VLTO - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $90.71 and last traded at $90.09, with a volume of 77409 shares trading hands. The stock had previously closed at $87.37.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VLTO. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a report on Wednesday, January 10th. They set a "hold" rating and a $79.00 target price on the stock. BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They issued an "outperform" rating and a $97.00 price target on the stock. BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 8th. Finally, Citigroup upped their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Veralto Stock Up 2.8 %

The company's 50-day moving average is $86.68. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts predict that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Buying and Selling

In other news, insider Mattias Bystrom sold 500 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veralto

A number of hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its holdings in shares of Veralto by 36.4% in the 1st quarter. Brookstone Capital Management now owns 3,559 shares of the company's stock worth $316,000 after purchasing an additional 949 shares in the last quarter. Factory Mutual Insurance Co. boosted its holdings in shares of Veralto by 27.4% in the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company's stock worth $12,711,000 after buying an additional 30,800 shares during the last quarter. Perkins Coie Trust Co increased its stake in shares of Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company's stock worth $618,000 after purchasing an additional 185 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Veralto in the first quarter valued at $1,071,000. Finally, Washington Capital Management Inc. bought a new position in shares of Veralto during the 1st quarter worth $208,000. 91.28% of the stock is currently owned by institutional investors.

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.