Veralto Co. (NYSE:VLTO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Veralto Co. (NYSE:VLTO) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $109.50.

VLTO has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Stifel Nicolaus lowered their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday. They set a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th.

Veralto Stock Performance

NYSE:VLTO opened at $104.22 on Monday. The company has a market cap of $25.77 billion, a P/E ratio of 32.17, a P/E/G ratio of 4.35 and a beta of 0.91. Veralto has a twelve month low of $73.91 and a twelve month high of $115.00. The company’s 50-day moving average price is $107.18 and its 200-day moving average price is $105.25. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Veralto will post 3.48 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,695 shares of company stock worth $1,615,017. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

A number of hedge funds and other institutional investors have recently bought and sold shares of VLTO. Brown Brothers Harriman & Co. increased its holdings in shares of Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Veralto by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after purchasing an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Veralto by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares during the last quarter. Strategic Blueprint LLC increased its stake in Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after purchasing an additional 103 shares in the last quarter. 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.