Veralto Corporation (NYSE:VLTO) Receives $110.09 Average Price Target from Analysts

Shares of Veralto Corporation (NYSE:VLTO - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven research firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $110.09.

Several research firms recently weighed in on VLTO. Stifel Nicolaus boosted their target price on Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective on the stock. Robert W. Baird upped their target price 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. Royal Bank Of Canada boosted their price objective on Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

Veralto Trading Down 0.0%

Shares of Veralto stock traded down $0.04 during mid-day trading on Friday, hitting $101.03. 1,542,969 shares of the stock were exchanged, compared to its average volume of 1,418,877. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 4.35 and a beta of 0.97. The company has a 50-day simple moving average of $97.94 and a 200 day simple moving average of $98.45. Veralto has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 16.56% and a return on equity of 45.63%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Research analysts forecast that Veralto will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Lesley Beneteau sold 458 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president directly owned 13,571 shares in the company, valued at approximately $1,368,499.64. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president owned 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. Insiders have sold 46,503 shares of company stock valued at $4,396,629 over the last three months. Corporate insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VLTO. AG2R LA Mondiale Gestion D Actifs bought a new position in Veralto during the 1st quarter worth approximately $1,150,000. Foresight Group Ltd Liability Partnership acquired a new stake in shares of Veralto in the first quarter worth about $14,162,000. Advisors Capital Management LLC increased its stake in shares of Veralto by 0.6% in the first quarter. Advisors Capital Management LLC now owns 55,655 shares of the company's stock worth $5,424,000 after purchasing an additional 340 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Veralto by 102.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 832 shares of the company's stock worth $81,000 after purchasing an additional 421 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in Veralto by 6.6% in the 1st quarter. IFM Investors Pty Ltd now owns 47,899 shares of the company's stock valued at $4,668,000 after buying an additional 2,986 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other 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.