Veralto (NYSE:VLTO) PT Raised to $119.00

Veralto (NYSE:VLTO) had its target price hoisted by analysts at BMO Capital Markets from $117.00 to $119.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 8.15% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. TD Cowen increased their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.85.

Veralto Stock Down 1.6 %

Shares of NYSE VLTO opened at $110.03 on Monday. The company has a 50 day simple moving average of $108.59 and a 200 day simple moving average of $99.98. The firm has a market cap of $27.16 billion and a PE ratio of 33.62. Veralto has a 1 year low of $65.51 and a 1 year high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, research analysts forecast that Veralto will post 3.45 EPS for the current year.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of Veralto 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 owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Veralto news, 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 transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,096 shares of company stock valued at $2,772,707. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veralto

Large investors have recently bought and sold shares of the stock. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the 2nd quarter worth $26,000. Fairscale Capital LLC bought a new stake in Veralto during the 2nd quarter worth approximately $30,000. LRI Investments LLC bought a new stake in Veralto during the 1st quarter worth approximately $30,000. Hazlett Burt & Watson Inc. increased its holdings in Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Veralto in the 4th quarter worth $32,000. 91.28% of the stock is currently owned by 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.