Veralto (NYSE:VLTO) Price Target Raised to $108.00

Veralto (NYSE:VLTO) had its price objective lifted by Royal Bank Of Canada from $104.00 to $108.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other research analysts have also commented on VLTO. Northcoast Research started coverage on Veralto in a research report on Tuesday, May 6th. They set a “buy” rating and a $110.00 price target on the stock. Citigroup cut their price target on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Robert W. Baird lifted their price target on Veralto from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus set a $120.00 price target on Veralto and gave the stock a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Veralto Price Performance

Shares of NYSE VLTO opened at $104.59 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.92 and a current ratio of 2.32. Veralto has a fifty-two week low of $83.86 and a fifty-two week high of $115.00. The firm has a market capitalization of $25.96 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.45 and a beta of 0.91. The stock’s 50-day simple moving average is $101.15 and its 200-day simple moving average is $98.61.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Monday, July 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Veralto had a return on equity of 41.45% and a net margin of 16.65%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts forecast that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.4%. Veralto’s payout ratio is presently 12.29%.

Insider Activity

In other news, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total value of $46,184.72. Following the transaction, the senior vice president owned 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 848 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president directly owned 8,433 shares in the company, valued at $847,938.15. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,806 shares of company stock valued at $381,351. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds and other institutional investors have recently bought and sold shares of VLTO. Bernard Wealth Management Corp. purchased a new stake in shares of Veralto during the 4th quarter worth $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Veralto during the 2nd quarter worth $26,000. Truvestments Capital LLC boosted its position in shares of Veralto by 148.5% during the 1st quarter. Truvestments Capital LLC now owns 328 shares of the company’s stock worth $32,000 after purchasing an additional 196 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Veralto during the 1st quarter worth $45,000. Finally, Grove Bank & Trust boosted its position in shares of Veralto by 198.2% during the 1st quarter. Grove Bank & Trust now owns 510 shares of the company’s stock worth $50,000 after purchasing an additional 339 shares in 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.