Veralto (NYSE:VLTO) Price Target Raised to $116.00

Veralto (NYSE:VLTO - Free Report) had its target price lifted by Stifel Nicolaus from $104.00 to $116.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

VLTO has been the subject of several other reports. Robert W. Baird boosted their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Finally, Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They set a "buy" rating and a $110.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $111.18.

Veralto Stock Down 1.1%

Shares of VLTO stock traded down $1.15 during trading hours on Monday, reaching $102.19. The company had a trading volume of 1,707,977 shares, compared to its average volume of 1,407,033. The company has a market capitalization of $25.33 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. Veralto has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.92 and a current ratio of 2.19. The stock's fifty day simple moving average is $100.61 and its 200 day simple moving average is $98.41.

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

Veralto Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 848 shares of the company'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 completion of the sale, the senior vice president directly owned 8,433 shares of the company's stock, valued at $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,418 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total value of $989,710.00. Following the transaction, the chief executive officer directly owned 106,219 shares in the company, valued at approximately $10,090,805. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,913 shares of company stock worth $4,339,370. Corporate insiders own 0.36% of the company's stock.

Institutional Trading of Veralto

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto in the 4th quarter valued at about $25,000. Truvestments Capital LLC increased its position in shares of Veralto by 148.5% during the first quarter. Truvestments Capital LLC now owns 328 shares of the company's stock valued at $32,000 after buying an additional 196 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Veralto in the fourth quarter worth approximately $44,000. Opal Wealth Advisors LLC bought a new stake in Veralto during the 1st quarter valued at about $45,000. Finally, Grove Bank & Trust grew its position in Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company's stock worth $50,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

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.