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

Shares of Veralto Co. (NYSE:VLTOGet Free Report) have been given an average rating of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $109.50.

A number of research firms recently issued reports on VLTO. Stifel Nicolaus dropped their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock.

Read Our Latest Research Report on Veralto

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in Veralto by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock worth $273,906,000 after purchasing an additional 314,412 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Veralto by 12.7% during the third quarter. Retirement Systems of Alabama now owns 54,633 shares of the company’s stock worth $6,111,000 after buying an additional 6,170 shares during the period. Tidal Investments LLC lifted its stake in shares of Veralto by 12.5% during the third quarter. Tidal Investments LLC now owns 16,534 shares of the company’s stock worth $1,849,000 after buying an additional 1,832 shares during the period. Finally, Cim Investment Management Inc. purchased a new stake in shares of Veralto during the third quarter valued at $469,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Trading Down 1.2 %

Shares of VLTO opened at $100.59 on Friday. The company’s fifty day simple moving average is $104.41 and its 200-day simple moving average is $105.53. The company has a market cap of $24.88 billion, a P/E ratio of 31.05, a P/E/G ratio of 4.30 and a beta of 0.91. 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 has a twelve month low of $73.91 and a twelve month high of $115.00.

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

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is a boost 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%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

About Veralto

(Get Free Report

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.

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Analyst Recommendations for Veralto (NYSE:VLTO)

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