Veralto Co. (NYSE:VLTO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Veralto Co. (NYSE:VLTO) have been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $113.18.

Several brokerages have commented on VLTO. Stifel Nicolaus lowered their target price on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada increased their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company.

Veralto Price Performance

Shares of VLTO stock opened at $101.11 on Tuesday. The stock has a 50-day moving average price of $103.82 and a 200 day moving average price of $106.34. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 4.35 and a beta of 1.06. Veralto has a 12 month low of $75.05 and a 12 month high of $115.00.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.11 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.44%. Veralto’s dividend payout ratio is presently 13.58%.

Hedge Funds Weigh In On Veralto

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Veralto during the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its stake in shares of Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Albion Financial Group UT boosted its holdings in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 336 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Veralto during the fourth quarter worth about $42,000. Finally, Versant Capital Management Inc increased its position in shares of Veralto by 140.1% during the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.