Veralto (NYSE:VLTO) Sets New 1-Year High at $109.77

Veralto Co. (NYSE:VLTO)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $109.77 and last traded at $109.68, with a volume of 227211 shares trading hands. The stock had previously closed at $108.72.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VLTO. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. TD Cowen increased their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price objective on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

Veralto Price Performance

The company’s 50 day moving average price is $101.29 and its 200-day moving average price is $94.76. The stock has a market cap of $27.11 billion and a P/E ratio of 32.92. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Veralto Co. will post 3.45 earnings per share for the current year.

Insider Transactions at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. Insiders sold a total of 4,055 shares of company stock worth $428,345 over the last three months. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veralto

A number of large investors have recently bought and sold shares of VLTO. Delta Asset Management LLC TN grew its holdings in Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Goodman Advisory Group LLC acquired a new position in shares of Veralto during the second quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new position in shares of Veralto during the fourth quarter valued at about $27,000. Hexagon Capital Partners LLC acquired a new position in shares of Veralto during the fourth quarter valued at about $29,000. Finally, Cassady Schiller Wealth Management LLC acquired a new position in shares of Veralto during the fourth quarter valued at about $30,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.