Veralto (NYSE:VLTO) Price Target Raised to $121.00

Veralto (NYSE:VLTO) had its target price increased by Royal Bank Of Canada from $109.00 to $121.00 in a report published on Monday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other equities analysts have also commented on VLTO. Wall Street Zen lowered Veralto from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Wolfe Research initiated coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 target price for the company. Stifel Nicolaus lifted their price target on Veralto from $113.00 to $132.00 and gave the company a “buy” rating in a report on Monday. UBS Group lifted their price target on Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a report on Monday, October 5th. Finally, BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.70.

Veralto Price Performance

Veralto stock opened at $117.07 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.61. The company has a market capitalization of $28.46 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.22 and a beta of 0.51. Veralto has a one year low of $80.03 and a one year high of $118.41. The business has a 50 day simple moving average of $99.27 and a 200 day simple moving average of $93.34.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Veralto’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Veralto will post 4.51 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, September 30th. Veralto’s payout ratio is 12.87%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 36,427 shares of Veralto stock in a transaction on Friday, October 30th. The stock was sold at an average price of $108.89, for a total value of $3,966,536.03. Following the completion of the sale, the senior vice president directly owned 8,565 shares of the company’s stock, valued at approximately $932,642.85. This trade represents a 80.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Bernard M. Skeete sold 1,514 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $112.58, for a total value of $170,446.12. Following the sale, the chief accounting officer owned 4,760 shares of the company’s stock, valued at approximately $535,880.80. The trade was a 24.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 46,025 shares of company stock valued at $4,977,963. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veralto

Several large investors have recently made changes to their positions in VLTO. Highland Investment Advisors LLC acquired a new stake in Veralto during the 2nd quarter worth approximately $32,000. Provenance Wealth Advisors LLC boosted its holdings in shares of Veralto by 997.4% in the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after buying an additional 389 shares during the period. Putney Financial Group LLC acquired a new position in shares of Veralto in the third quarter valued at approximately $42,000. Latitude Advisors LLC acquired a new position in shares of Veralto in the third quarter valued at approximately $47,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Veralto during the first quarter worth $66,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

About Veralto

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.