Veralto Co. (NYSE:VLTO) Given Consensus Rating of "Hold" by Brokerages

Veralto Co. (NYSE:VLTO - Get Free Report) has been assigned an average rating of "Hold" from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $110.09.

VLTO has been the topic of several research analyst reports. Citigroup lowered their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Northcoast Research initiated coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st.

Veralto Stock Performance

Shares of Veralto stock traded down $0.75 during midday trading on Monday, hitting $100.28. The company had a trading volume of 1,100,810 shares, compared to its average volume of 1,452,440. The business's 50 day simple moving average is $95.07 and its two-hundred day simple moving average is $99.46. The stock has a market cap of $24.86 billion, a PE ratio of 30.02, a P/E/G ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto has a 1-year low of $83.87 and a 1-year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Veralto's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. As a group, equities analysts predict that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, June 30th. Veralto's payout ratio is currently 12.57%.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the transaction, the chief executive officer now directly owns 116,637 shares of the company's stock, valued at $11,495,742.72. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the transaction, the senior vice president now directly owns 17,434 shares of the company's stock, valued at $1,633,042.78. This represents a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,069 shares of company stock valued at $5,337,767 in the last three months. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VLTO. JPMorgan Chase & Co. raised its holdings in shares of Veralto by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company's stock valued at $273,906,000 after buying an additional 314,412 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company's stock valued at $352,000 after buying an additional 479 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Veralto in the fourth quarter valued at about $52,000. Caprock Group LLC raised its holdings in shares of Veralto by 10.7% in the fourth quarter. Caprock Group LLC now owns 4,752 shares of the company's stock valued at $485,000 after buying an additional 458 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Veralto by 17.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,235 shares of the company's stock worth $228,000 after purchasing an additional 336 shares during the last quarter. 91.28% of the stock is 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.