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

Veralto Co. (NYSE:VLTO) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $111.90.

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Citigroup cut their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada dropped 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.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the company’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 transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,471 shares of company stock worth $2,234,030 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Veralto

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Veralto during the 4th quarter worth approximately $289,028,000. First Trust Advisors LP boosted its position in Veralto by 222.3% during the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company’s stock worth $265,054,000 after purchasing an additional 1,794,992 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Veralto in the fourth quarter valued at $133,058,000. Nordea Investment Management AB increased its position in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Veralto during the 4th quarter worth $96,888,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.7 %

VLTO stock opened at $90.06 on Friday. Veralto has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company’s 50 day moving average price is $96.46 and its 200 day moving average price is $102.19. 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 capitalization of $22.34 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last released 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 net margin of 16.04% and a return on equity of 49.29%. On average, equities research analysts anticipate that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company 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 dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.49%. Veralto’s payout ratio is currently 13.17%.

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.