Veralto (NYSE:VLTO) Now Covered by UBS Group

UBS Group initiated coverage on shares of Veralto (NYSE:VLTO) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $118.00 price target on the stock. UBS Group’s price objective points to a potential upside of 8.75% from the company’s current price.

Several other brokerages have also recently commented on VLTO. BMO Capital Markets boosted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Robert W. Baird boosted their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their target price on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.46.

Veralto Price Performance

Shares of Veralto stock opened at $108.51 on Tuesday. Veralto has a twelve month low of $65.51 and a twelve month high of $108.89. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $100.52 and a two-hundred day simple moving average of $93.75. The stock has a market capitalization of $26.81 billion and a price-to-earnings ratio of 32.05.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 EPS 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 analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. Analysts forecast that Veralto will post 3.45 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fairscale Capital LLC acquired a new position in shares of Veralto during the 2nd quarter valued at $30,000. First Command Advisory Services Inc. acquired a new position in Veralto during the fourth quarter worth $25,000. LRI Investments LLC acquired a new position in Veralto during the first quarter worth $30,000. Delta Asset Management LLC TN raised its holdings in Veralto by 216.0% during the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Veralto during the fourth quarter worth $27,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.