Veralto Co. (NYSE:VLTO) Receives $112.55 Average PT from Analysts

Veralto Co. (NYSE:VLTO) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $112.55.

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Citigroup dropped their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Royal Bank of Canada decreased their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,467 shares of company stock valued at $1,150,366. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Putney Financial Group LLC acquired a new position in Veralto during the fourth quarter worth approximately $60,000. Mackenzie Financial Corp grew its stake in shares of Veralto by 19.9% during the 4th quarter. Mackenzie Financial Corp now owns 23,097 shares of the company’s stock valued at $2,352,000 after buying an additional 3,831 shares during the period. Toronto Dominion Bank increased its holdings in shares of Veralto by 223.9% during the 4th quarter. Toronto Dominion Bank now owns 400,225 shares of the company’s stock worth $40,762,000 after buying an additional 276,666 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Veralto by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,610,965 shares of the company’s stock worth $265,927,000 after buying an additional 291,472 shares during the period. Finally, Williams Jones Wealth Management LLC. boosted its holdings in Veralto by 32.8% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 123,502 shares of the company’s stock valued at $12,579,000 after acquiring an additional 30,499 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Stock Down 0.9 %

Veralto stock opened at $99.70 on Friday. The stock has a market capitalization of $24.66 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 4.24 and a beta of 1.06. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $101.25 and a two-hundred day moving average of $105.80. Veralto has a twelve month low of $85.70 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, research analysts expect that Veralto will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. Veralto’s payout ratio is 13.17%.

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.