Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $113.50

Shares of Veralto Co. (NYSE:VLTO) have been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $111.10.

Several research firms have recently issued reports on VLTO. Citigroup reduced 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. Stifel Nicolaus cut their price target on shares of Veralto from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th.

Veralto Price Performance

VLTO opened at $89.59 on Friday. The company’s 50 day simple moving average is $95.86 and its 200-day simple moving average is $101.74. The stock has a market capitalization of $22.22 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. Veralto has a one year low of $83.87 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Sell-side analysts anticipate that Veralto will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is presently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock valued at $2,234,030 in the last 90 days. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VLTO. Nordea Investment Management AB grew its stake in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after purchasing an additional 2,676 shares during the last quarter. Czech National Bank raised its holdings in shares of Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after purchasing an additional 3,284 shares during the period. Assenagon Asset Management S.A. lifted its stake in Veralto by 15.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock valued at $1,438,000 after purchasing an additional 1,889 shares during the last quarter. Finally, David Wealth Management LLC bought a new position in Veralto during the fourth quarter worth about $1,013,000. 91.28% of the stock is currently owned by institutional investors.

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.