Veralto (NYSE:VLTO) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Veralto (NYSE:VLTO) had its price objective hoisted by analysts at Robert W. Baird from $105.00 to $106.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 10.90% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Citigroup dropped their price objective on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price target on Veralto from $110.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $110.10.

Veralto Stock Up 1.5 %

Shares of NYSE VLTO opened at $95.58 on Thursday. The stock has a market cap of $23.71 billion, a P/E ratio of 28.62, a PEG ratio of 4.24 and a beta of 0.97. The business’s fifty day simple moving average is $94.54 and its 200-day simple moving average is $100.43. Veralto has a 12-month low of $83.87 and a 12-month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last posted 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 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.84 EPS. Veralto’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Veralto will post 3.66 EPS for the current fiscal year.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,418 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the transaction, the chief executive officer now owns 106,219 shares in the company, valued at approximately $10,090,805. This represents a 8.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,889 shares of company stock worth $3,223,740. Insiders own 0.36% of the company’s stock.

Institutional Trading of Veralto

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Veralto by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock valued at $2,989,011,000 after purchasing an additional 146,234 shares during the last quarter. Amundi grew its holdings in Veralto by 2.3% during the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after buying an additional 158,342 shares during the last quarter. Geode Capital Management LLC increased its position in Veralto by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after buying an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Veralto by 1.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock worth $485,304,000 after buying an additional 54,795 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock worth $462,538,000 after acquiring an additional 401,228 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.