Veralto (NYSE:VLTO) Reaches New 12-Month High at $98.35

Veralto Co. (NYSE:VLTO)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $98.35 and last traded at $98.09, with a volume of 162954 shares traded. The stock had previously closed at $96.94.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Citigroup lifted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. BMO Capital Markets raised their target price on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Veralto Stock Up 2.3 %

The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The stock has a 50 day moving average of $90.52 and a 200-day moving average of $82.27.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts forecast that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Institutional investors have recently modified their holdings of the business. Sugarloaf Wealth Management LLC acquired a new position in shares of Veralto during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. purchased a new stake in shares of Veralto during the 4th quarter valued at approximately $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto during the 4th quarter valued at approximately $26,000. Delta Asset Management LLC TN raised its position in shares of Veralto by 216.0% during the 4th 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 during the period. Finally, Dougherty Wealth Advisers LLC purchased a new stake in shares of Veralto during the 4th quarter valued at approximately $27,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Veralto

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.