Brokerages Set Veralto Corporation (NYSE:VLTO) Target Price at $111.18

Shares of Veralto Corporation (NYSE:VLTO - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven analysts that are covering the stock, Marketbeat.com reports. Six equities 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 brokers that have updated their coverage on the stock in the last year is $111.18.

A number of equities research analysts have issued reports on the company. Northcoast Research assumed coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Royal Bank Of Canada increased their price target 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. Citigroup decreased their price objective on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Robert W. Baird raised their price objective 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.

Veralto Stock Up 0.5%

Shares of VLTO stock traded up $0.50 during midday trading on Tuesday, reaching $102.61. 895,663 shares of the stock were exchanged, compared to its average volume of 1,404,996. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The company's 50 day moving average is $100.61 and its two-hundred day moving average is $98.41. Veralto has a 1 year low of $83.87 and a 1 year high of $115.00. The firm has a market cap of $25.43 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 30th. Veralto's dividend payout ratio is currently 12.57%.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 2,500 shares of Veralto stock in a transaction on Monday, May 12th. The shares were sold at an average price of $99.96, for a total transaction of $249,900.00. Following the completion of the sale, the senior vice president directly owned 32,430 shares in the company, valued at approximately $3,241,702.80. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president owned 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,913 shares of company stock valued at $4,339,370. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its position in shares of Veralto by 11.5% during the 1st 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 last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Veralto by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,784 shares of the company's stock worth $856,000 after purchasing an additional 113 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Veralto by 9.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,833 shares of the company's stock worth $2,619,000 after purchasing an additional 2,313 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Veralto by 3.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company's stock worth $1,417,000 after buying an additional 429 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Veralto by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company's stock worth $287,000 after purchasing an additional 333 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.