Veralto Co. (NYSE:VLTO) Receives Consensus Rating of "Hold" from Brokerages

Shares of Veralto Co. (NYSE:VLTO - Get Free Report) have been given a consensus rating of "Hold" by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $110.09.

Several research firms have recently issued reports on VLTO. Royal Bank of Canada lifted their target price on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target for the company. Robert W. Baird raised their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus raised their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report on Thursday, May 1st.

Veralto Trading Up 0.6%

VLTO stock traded up $0.56 during trading on Monday, hitting $99.48. 866,946 shares of the company traded hands, compared to its average volume of 1,449,557. The firm has a market capitalization of $24.66 billion, a PE ratio of 29.78, a P/E/G ratio of 4.24 and a beta of 0.99. Veralto has a 1 year low of $83.87 and a 1 year high of $115.00. The company has a 50-day moving average of $95.23 and a 200-day moving average of $99.45. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. The company had revenue of $1.33 billion during 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%. Veralto's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Analysts predict that Veralto will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's dividend payout ratio (DPR) is presently 12.57%.

Insiders Place Their Bets

In other news, SVP Lesley Beneteau sold 458 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the sale, the senior vice president now owns 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $100.55, for a total transaction of $85,266.40. Following the sale, the senior vice president now directly owns 8,433 shares of the company's stock, valued at approximately $847,938.15. The trade was a 9.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,917 shares of company stock valued at $5,423,033. Company insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter worth $25,000. OFI Invest Asset Management bought a new position in Veralto in the 4th quarter worth $26,000. BankPlus Trust Department bought a new position in Veralto in the 4th quarter worth $29,000. Truvestments Capital LLC boosted its holdings in Veralto by 148.5% in the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company's stock worth $32,000 after buying an additional 196 shares during the period. Finally, Lee Danner & Bass Inc. bought a new position in Veralto in the 4th quarter worth $43,000. 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.