Veralto (NYSE:VLTO) Price Target Raised to $98.00

Veralto (NYSE:VLTO) had its target price lifted by Robert W. Baird from $90.00 to $98.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also commented on VLTO. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. The Goldman Sachs Group initiated coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a buy rating and a $104.00 price objective on the stock. 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 on the stock. BNP Paribas started coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $95.18.

Veralto Trading Up 0.4 %

Shares of NYSE:VLTO opened at $94.12 on Thursday. The company’s 50 day moving average price is $88.53 and its two-hundred day moving average price is $80.44. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.40 and a current ratio of 1.83.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Veralto will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 yield of 0.38%.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction that occurred 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 directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in Veralto during the 4th quarter valued at about $2,127,330,000. Capital International Investors purchased a new stake in Veralto during the 4th quarter valued at about $538,324,000. Brown Advisory Inc. bought a new position in Veralto during the 4th quarter valued at about $528,018,000. Impax Asset Management Group plc bought a new position in Veralto during the 4th quarter valued at about $347,827,000. Finally, Bank of New York Mellon Corp lifted its stake in Veralto by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock valued at $352,700,000 after acquiring an additional 617,441 shares during the period. 91.28% of the stock is currently owned by 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.