Brokerages Set Veralto Co. (NYSE:VLTO) Target Price at $95.18

Veralto Co. (NYSE:VLTO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $95.18.

A number of research firms recently weighed in on VLTO. Citigroup raised their target price on shares of Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Stifel Nicolaus raised their target price on shares of Veralto from $92.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. Royal Bank of Canada raised their target price on shares of Veralto from $78.00 to $91.00 and gave the company a "sector perform" rating in a report on Thursday, February 8th. Robert W. Baird raised their target price on shares of Veralto from $90.00 to $98.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Argus began coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a "buy" rating and a $90.00 target price for the company.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the firm'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 transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Veralto

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new stake in shares of Veralto during the fourth quarter worth about $2,127,330,000. Capital International Investors purchased a new stake in shares of Veralto during the fourth quarter worth about $538,324,000. Brown Advisory Inc. purchased a new stake in shares of Veralto during the fourth quarter worth about $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the fourth quarter worth about $347,827,000. Finally, Norges Bank purchased a new stake in shares of Veralto during the fourth quarter worth about $266,143,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Up 0.4 %

Veralto stock traded up $0.33 during midday trading on Friday, hitting $94.12. The stock had a trading volume of 1,151,386 shares, compared to its average volume of 1,946,553. The firm's fifty day moving average is $88.53 and its two-hundred day moving average is $80.44. Veralto has a 52-week low of $65.51 and a 52-week high of $95.40. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76.

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

Veralto Dividend Announcement

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. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

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.