Veralto Corporation (NYSE:VLTO) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Veralto Corporation has received an average rating of "Moderate Buy" from analysts, with three holding and five buying recommendations.
• The average one-year price target for Veralto shares is $113.43, with several firms adjusting their targets recently to between $106.00 and $120.00.
• Institutional investors hold 91.28% of Veralto's stock, with several hedge funds increasing their stakes in the company during the first quarter.

Shares of Veralto Corporation (NYSE:VLTO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $113.4286.

Several analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Veralto from $106.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $120.00 price target on shares of Veralto and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wolfe Research raised shares of Veralto from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Northcoast Research assumed coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Finally, Royal Bank Of Canada lifted their price target on shares of Veralto from $104.00 to $108.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 848 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the completion of the sale, the senior vice president owned 8,433 shares in the company, valued at approximately $847,938.15. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veralto

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC grew its stake in Veralto by 11.5% in the first quarter. Park Avenue Securities LLC now owns 19,213 shares of the company's stock worth $1,872,000 after purchasing an additional 1,985 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Veralto by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after acquiring an additional 113 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Veralto by 9.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company's stock worth $2,619,000 after acquiring an additional 2,313 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Veralto by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock worth $1,417,000 after acquiring an additional 429 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Veralto by 12.8% in the first quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

NYSE:VLTO opened at $107.14 on Friday. The company has a market capitalization of $26.59 billion, a PE ratio of 29.93, a P/E/G ratio of 3.55 and a beta of 0.91. The company has a 50 day simple moving average of $102.60 and a two-hundred day simple moving average of $98.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.06 and a current ratio of 2.32. Veralto has a fifty-two week low of $83.86 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Veralto had a net margin of 16.65% and a return on equity of 41.45%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Research analysts anticipate that Veralto will post 3.66 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.