Veralto (NYSE:VLTO) Sets New 12-Month High at $95.56

Veralto Co. (NYSE:VLTO - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $95.56 and last traded at $94.92, with a volume of 816637 shares. The stock had previously closed at $94.12.

Analysts Set New Price Targets

Several analysts have weighed in on VLTO shares. BNP Paribas initiated coverage on Veralto in a report on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a "buy" rating and a $104.00 target price on the stock. Argus assumed coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a "buy" rating and a $90.00 price target for the company. Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Citigroup lifted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.18.

Veralto Stock Performance

The business's 50-day moving average is $88.71 and its 200 day moving average is $80.59. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. The company's quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. 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 company's stock in a transaction dated Friday, February 16th. The shares were 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 of the company's stock, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mattias Bystrom sold 500 shares of the company's stock in a transaction on 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 owns 30,310 shares of the company's stock, valued at $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

Several hedge funds and other institutional investors have recently modified their holdings of VLTO. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. bought a new position in Veralto in the fourth quarter worth $25,000. Blue Trust Inc. purchased a new position in Veralto during the fourth quarter valued at $26,000. Delta Asset Management LLC TN boosted its holdings in shares of Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company's stock valued at $26,000 after buying an additional 216 shares in the last quarter. Finally, Dougherty Wealth Advisers LLC purchased a new stake in shares of Veralto in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

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.