Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $113.50

Shares of Veralto Co. (NYSE:VLTO) have earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $113.50.

Several research firms have recently commented on VLTO. Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus dropped their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now owns 116,637 shares of the company’s stock, valued at $11,495,742.72. The trade was a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,881 shares of company stock worth $2,176,770. 0.31% of the stock is owned by company insiders.

Institutional Trading of Veralto

A number of hedge funds and other institutional investors have recently modified their holdings of VLTO. Bernard Wealth Management Corp. bought a new position in Veralto during the fourth quarter valued at about $25,000. OFI Invest Asset Management bought a new position in shares of Veralto during the 4th quarter valued at about $26,000. BankPlus Trust Department acquired a new position in shares of Veralto in the 4th quarter worth approximately $29,000. Albion Financial Group UT grew its stake in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Veralto in the 4th quarter worth approximately $42,000. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 0.5 %

Shares of NYSE VLTO opened at $97.74 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock’s 50 day moving average price is $99.83 and its two-hundred day moving average price is $104.19. Veralto has a 52-week low of $85.91 and a 52-week high of $115.00. The stock has a market capitalization of $24.20 billion, a P/E ratio of 29.26, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, analysts anticipate that Veralto will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is currently 13.17%.

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.