Veralto (NYSE:VLTO) Given New $97.00 Price Target at Stifel Nicolaus

Veralto (NYSE:VLTO) had its target price boosted by Stifel Nicolaus from $92.00 to $97.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 price target for the company. BMO Capital Markets began coverage on Veralto in a research report on Tuesday, February 27th. They set an outperform rating and a $97.00 price objective for the company. Royal Bank of Canada boosted their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective for the company. Finally, Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Veralto presently has a consensus rating of Moderate Buy and a consensus target price of $93.36.

Veralto Trading Down 0.4 %

VLTO opened at $90.55 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average of $87.42 and a 200-day moving average of $79.66. Veralto has a 52-week low of $65.51 and a 52-week high of $92.15.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts forecast that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed 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 is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of large investors have recently bought and sold shares of the business. First Bank & Trust bought a new stake in Veralto during the 1st quarter worth approximately $1,219,000. Corundum Group Inc. bought a new position in Veralto in the 1st quarter valued at $223,000. Brookstone Capital Management boosted its position in Veralto by 36.4% in the 1st quarter. Brookstone Capital Management now owns 3,559 shares of the company’s stock valued at $316,000 after buying an additional 949 shares during the last quarter. Factory Mutual Insurance Co. boosted its position in Veralto by 27.4% in the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company’s stock valued at $12,711,000 after buying an additional 30,800 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its position in Veralto by 2.7% in the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock valued at $618,000 after buying an additional 185 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

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.