Veralto (NYSE:VLTO) Price Target Increased to $98.00 by Analysts at Robert W. Baird

Veralto (NYSE:VLTO) had its price target boosted by Robert W. Baird from $90.00 to $98.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on VLTO. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, April 17th. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an outperform rating and a $103.00 price target for the company. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an outperform rating and a $97.00 price target for the company. Finally, Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Veralto presently has a consensus rating of Moderate Buy and an average price target of $95.18.

Veralto Trading Up 0.4 %

Veralto stock opened at $94.12 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The firm’s fifty day moving average is $88.53 and its 200 day moving average is $80.40.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Veralto will post 3.3 EPS for the current fiscal year.

Veralto Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.38%.

Insider Transactions at Veralto

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

Hedge Funds Weigh In On Veralto

A number of hedge funds and other institutional investors have recently made changes to their positions in VLTO. Vanguard Group Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $2,127,330,000. Capital International Investors purchased a new position in shares of Veralto in the 4th quarter worth about $538,324,000. Brown Advisory Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $528,018,000. Impax Asset Management Group plc purchased a new position in shares of Veralto in the 4th quarter worth about $347,827,000. Finally, Norges Bank purchased a new position in shares of Veralto in the 4th quarter worth about $266,143,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.