Veralto Co. (NYSE:VLTO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Veralto Co. (NYSE:VLTO) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $95.18.

A number of analysts have commented on VLTO shares. Stifel Nicolaus lifted their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Royal Bank of Canada raised their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock.

Insider Buying and Selling at Veralto

In other news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Veralto

Hedge funds and other institutional investors have recently modified their holdings of the company. Factory Mutual Insurance Co. purchased a new stake in Veralto in the 4th quarter worth $9,260,000. State of Michigan Retirement System purchased a new stake in shares of Veralto during the fourth quarter worth about $4,940,000. Asset Management One Co. Ltd. bought a new stake in Veralto during the 4th quarter valued at approximately $7,944,000. Vontobel Holding Ltd. purchased a new position in Veralto in the 4th quarter worth approximately $60,495,000. Finally, OLD National Bancorp IN bought a new position in Veralto in the 4th quarter worth approximately $876,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 0.4 %

Shares of Veralto stock opened at $94.12 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76. Veralto has a 1 year low of $65.51 and a 1 year high of $95.40. The firm’s 50-day moving average is $88.53 and its 200 day moving average is $80.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Veralto will post 3.3 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.38%.

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.