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

Shares of Veralto Co. (NYSE:VLTO) have received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $109.50.

VLTO has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Jefferies Financial Group started coverage on Veralto in a research note on Thursday. They set a “buy” rating and a $125.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th.

Veralto Stock Down 1.5 %

VLTO opened at $104.22 on Monday. The stock has a market capitalization of $25.77 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 4.35 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto has a one year low of $73.91 and a one year high of $115.00. The business’s 50-day simple moving average is $107.18 and its 200-day simple moving average is $105.25.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Analysts anticipate that Veralto will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio is currently 11.11%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,695 shares of company stock worth $1,615,017. 0.31% of the stock is owned by company insiders.

Institutional Trading of Veralto

Several institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Veralto in the third quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Veralto in the 2nd quarter valued at about $26,000. Fairscale Capital LLC purchased a new position in Veralto in the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. boosted its stake in shares of 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 purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors 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.