Veralto (NYSE:VLTO) Hits New 12-Month High at $100.00

Shares of Veralto Co. (NYSE:VLTO - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $100.00 and last traded at $99.80, with a volume of 26047 shares. The stock had previously closed at $99.53.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an "outperform" rating in a report on Thursday, April 25th. Citigroup raised 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. Stifel Nicolaus raised their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. BNP Paribas assumed coverage on shares of Veralto in a research report on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a "buy" rating and a $104.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.18.

Veralto Stock Performance

The stock has a market capitalization of $24.87 billion and a P/E ratio of 27.91. The company's 50-day moving average is $91.91 and its two-hundred day moving average is $83.64. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

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

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%. Veralto's dividend payout ratio (DPR) is 9.97%.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

Several hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC grew its stake in shares of Veralto by 3.2% in the 1st quarter. Global Retirement Partners LLC now owns 3,966 shares of the company's stock worth $352,000 after purchasing an additional 123 shares during the last quarter. Perkins Coie Trust Co increased its position in shares of Veralto by 2.7% in the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company's stock worth $618,000 after acquiring an additional 185 shares in the last quarter. Czech National Bank increased its position in shares of Veralto by 0.5% in the first quarter. Czech National Bank now owns 38,585 shares of the company's stock worth $3,421,000 after acquiring an additional 192 shares in the last quarter. Equitable Trust Co. increased its position in shares of Veralto by 4.6% in the first quarter. Equitable Trust Co. now owns 4,880 shares of the company's stock worth $433,000 after acquiring an additional 213 shares in the last quarter. Finally, Motco increased its position in shares of Veralto by 53.7% in the first quarter. Motco now owns 610 shares of the company's stock worth $54,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds 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.