Veralto (NYSE:VLTO) Reaches New 52-Week High at $108.03

Shares of Veralto Co. (NYSE:VLTO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $108.03 and last traded at $107.94, with a volume of 411165 shares changing hands. The stock had previously closed at $106.49.

Analyst Ratings Changes

VLTO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird boosted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. UBS Group assumed coverage on Veralto in a report on Tuesday. They set a “neutral” rating and a $118.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Stock Performance

The company has a fifty day moving average price of $100.22 and a 200 day moving average price of $93.43. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market cap of $26.71 billion and a P/E ratio of 32.05.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, equities analysts expect that Veralto Co. will post 3.45 EPS for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, June 28th.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,055 shares of company stock worth $428,345. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VLTO. Vanguard Group Inc. increased its holdings in Veralto by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the period. Capital International Investors raised its position in shares of Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after buying an additional 553,021 shares in the last quarter. Brown Advisory Inc. bought a new stake in Veralto during the fourth quarter valued at $528,018,000. Bank of New York Mellon Corp grew its position in Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after buying an additional 200,657 shares in the last quarter. Finally, Norges Bank purchased a new position in Veralto during the fourth quarter worth about $266,143,000. 91.28% of the stock is currently owned by hedge funds and other 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.