Veralto (NYSE:VLTO) Sets New 12-Month High at $90.71

Veralto Co. (NYSE:VLTO)’s share price hit a new 52-week high on Monday . The company traded as high as $90.71 and last traded at $90.09, with a volume of 77409 shares. The stock had previously closed at $87.37.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Royal Bank of Canada increased their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. BNP Paribas initiated coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price on the stock. Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.00.

Veralto Price Performance

The firm has a 50 day moving average price of $87.23 and a two-hundred day moving average price of $79.58. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of large investors have recently bought and sold shares of VLTO. Perkins Coie Trust Co increased its position in Veralto by 2.7% in the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after acquiring an additional 185 shares during the period. Czech National Bank increased its holdings in shares of Veralto by 0.5% during the first quarter. Czech National Bank now owns 38,585 shares of the company’s stock valued at $3,421,000 after purchasing an additional 192 shares during the period. Delta Asset Management LLC TN raised its stake in shares of Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Fishman Jay A Ltd. MI lifted its holdings in Veralto by 6.0% in the fourth quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock worth $343,000 after purchasing an additional 238 shares during the period. Finally, City Holding Co. lifted its holdings in Veralto by 2.0% in the first quarter. City Holding Co. now owns 15,231 shares of the company’s stock worth $1,350,000 after purchasing an additional 293 shares during the period. Institutional investors 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.