Veralto (NYSE:VLTO) Coverage Initiated at Jefferies Financial Group

Analysts at Jefferies Financial Group assumed coverage on shares of Veralto (NYSE:VLTO) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $125.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 19.94% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Stifel Nicolaus decreased their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada upped their target price 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.50.

Veralto Stock Performance

NYSE:VLTO opened at $104.22 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The stock has a market capitalization of $25.77 billion, a PE ratio of 32.17, a P/E/G ratio of 4.35 and a beta of 0.91. Veralto has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The company has a fifty day moving average of $107.18 and a two-hundred day moving average of $105.25.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Veralto will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock worth $1,615,017 in the last ninety days. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Veralto

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in Veralto in the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto during the second quarter worth $26,000. Fairscale Capital LLC acquired a new stake in shares of Veralto in the second quarter valued at $30,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. 91.28% of the stock is 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.