Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $113.50

Shares of Veralto Co. (NYSE:VLTO) have received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $113.50.

Several analysts have commented on VLTO shares. Royal Bank of Canada lowered their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup lowered 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. Jefferies Financial Group assumed 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. Finally, Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th.

Veralto Stock Down 0.5 %

Shares of NYSE VLTO opened at $97.74 on Wednesday. The firm’s 50 day moving average price is $99.83 and its 200 day moving average price is $104.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $24.20 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto has a 1 year low of $85.91 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, sell-side analysts anticipate that Veralto will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Veralto

Several large investors have recently modified their holdings of VLTO. PEAK6 Investments LLC boosted its holdings in Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after purchasing an additional 6,211 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after buying an additional 2,676 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after buying an additional 15,048 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after buying an additional 3,284 shares during 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.