Veralto (NYSE:VLTO) Price Target Raised to $112.00

Veralto (NYSE:VLTO) had its price target boosted by Robert W. Baird from $98.00 to $112.00 in a research report released on Monday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

VLTO has been the topic of several other reports. Royal Bank of Canada reissued a sector perform rating and set a $101.00 price target on shares of Veralto in a research report on Friday, June 14th. Citigroup raised their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Veralto from $100.00 to $110.00 and gave the company a buy rating in a research report on Thursday, July 18th. TD Cowen initiated coverage on shares of Veralto in a report on Monday, June 17th. They issued a hold rating and a $95.00 target price on the stock. Finally, BMO Capital Markets upped their price objective on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Veralto has an average rating of Moderate Buy and an average price target of $103.33.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $106.60 on Monday. The business’s 50-day simple moving average is $99.39 and its 200 day simple moving average is $91.72. The company has a market cap of $26.34 billion and a P/E ratio of 31.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto has a one year low of $65.51 and a one year high of $107.86.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. On average, sell-side analysts forecast that Veralto will post 3.43 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, June 28th.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Honeycutt 13,191 shares of the stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Veralto during the fourth quarter worth about $729,000. Pacer Advisors Inc. acquired a new position in Veralto during the 4th quarter worth approximately $1,362,000. Assenagon Asset Management S.A. bought a new position in shares of Veralto during the 4th quarter worth approximately $965,000. Blue Trust Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $26,000. Finally, Global Retirement Partners LLC lifted its position in shares of Veralto by 63.6% in the fourth quarter. Global Retirement Partners LLC now owns 3,843 shares of the company’s stock worth $316,000 after purchasing an additional 1,494 shares in the last quarter. Institutional investors 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.