Veralto Co. (NYSE:VLTO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Veralto Co. (NYSE:VLTO) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $104.46.

Several brokerages recently weighed in on VLTO. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen raised their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. UBS Group assumed coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

Veralto Stock Up 0.6 %

Shares of NYSE:VLTO opened at $112.43 on Friday. Veralto has a 12 month low of $65.51 and a 12 month high of $112.77. The firm has a market cap of $27.75 billion and a P/E ratio of 33.54. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $102.99 and its two-hundred day moving average price is $96.28.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. As a group, research analysts forecast that Veralto will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. The disclosure for this sale can be found here. Insiders sold a total of 11,152 shares of company stock worth $1,211,920 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veralto

Institutional investors and hedge funds have recently bought and sold shares of the company. Delta Asset Management LLC TN boosted its position in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after buying an additional 216 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Veralto in the second quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new position in Veralto in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC bought a new stake in Veralto during the 4th quarter worth approximately $29,000. Finally, Cassady Schiller Wealth Management LLC acquired a new position in Veralto in the 4th quarter valued at approximately $30,000. 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.