BMO Capital Markets Boosts Veralto (NYSE:VLTO) Price Target to $101.00

Veralto (NYSE:VLTO) had its target price lifted by BMO Capital Markets from $97.00 to $101.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup upped their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Robert W. Baird upped their price objective on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research report on Thursday. Argus started coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a hold rating and a $79.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto currently has an average rating of Moderate Buy and a consensus target price of $95.18.

Veralto Price Performance

Shares of Veralto stock opened at $94.12 on Thursday. The company has a fifty day moving average price of $88.53 and a 200 day moving average price of $80.40. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto has a twelve month low of $65.51 and a twelve month high of $95.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts expect that Veralto will post 3.3 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Institutional investors and hedge funds have recently bought and sold shares of the business. Sugarloaf Wealth Management LLC acquired a new stake in Veralto during the fourth quarter worth about $25,000. Blue Trust Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $25,000. Delta Asset Management LLC TN increased its stake in shares of Veralto by 216.0% in the fourth quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.