Veralto Corporation (NYSE:VLTO) Given Consensus Rating of “Hold” by Analysts

Veralto Corporation (NYSE:VLTO) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $110.09.

VLTO has been the subject of several research analyst reports. Citigroup cut their target price on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus lifted their price objective on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Royal Bank Of Canada lifted their price objective on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price objective on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Northcoast Research assumed coverage on shares of Veralto in a research note on Tuesday, May 6th. They issued a “buy” rating and a $110.00 price objective for the company.

Insider Buying and Selling

In related news, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the completion of the transaction, the senior vice president now directly owns 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 848 shares of Veralto stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $100.55, for a total transaction of $85,266.40. Following the transaction, the senior vice president now directly owns 8,433 shares of the company’s stock, valued at approximately $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,503 shares of company stock valued at $4,396,629. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of large investors have recently made changes to their positions in VLTO. Park Avenue Securities LLC lifted its holdings in Veralto by 11.5% during the 1st quarter. Park Avenue Securities LLC now owns 19,213 shares of the company’s stock valued at $1,872,000 after buying an additional 1,985 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Veralto by 3.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,544 shares of the company’s stock valued at $1,417,000 after buying an additional 429 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Veralto by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,938 shares of the company’s stock valued at $287,000 after buying an additional 333 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in Veralto by 15.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company’s stock valued at $2,570,000 after buying an additional 3,392 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company’s stock valued at $302,000 after buying an additional 117 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

VLTO opened at $101.31 on Friday. The stock has a market capitalization of $25.11 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 4.31 and a beta of 0.97. The company has a fifty day moving average of $97.71 and a 200 day moving average of $98.58. Veralto has a fifty-two week low of $83.87 and a fifty-two week 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.

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

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s dividend payout ratio is presently 12.57%.

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.