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

Shares of Veralto Co. (NYSE:VLTO) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $105.85.

VLTO has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price target 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. Finally, TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th.

Veralto Price Performance

NYSE:VLTO opened at $110.03 on Wednesday. The company has a market cap of $27.16 billion and a P/E ratio of 33.62. The firm’s fifty day moving average price is $108.59 and its two-hundred day moving average price is $99.98. Veralto has a one year low of $65.51 and a one 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 announced its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate 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%. Veralto’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities analysts expect that Veralto will post 3.45 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 3,000 shares of the company’s 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 transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. The disclosure for this sale can be found here. Insiders have sold 25,096 shares of company stock worth $2,772,707 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Veralto by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after acquiring an additional 1,568,103 shares during the last quarter. Capital International Investors lifted its holdings in shares of Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after purchasing an additional 553,021 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Veralto by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after purchasing an additional 200,657 shares during the last quarter. Swedbank AB increased its holdings in Veralto by 4.9% in the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after purchasing an additional 132,105 shares during the period. Finally, Northern Trust Corp raised its position in Veralto by 33,575.5% during the 4th quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after purchasing an additional 2,512,791 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

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.