Veralto (NYSE:VLTO) Now Covered by Analysts at Northcoast Research

Northcoast Research started coverage on shares of Veralto (NYSE:VLTO) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $110.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird boosted their price objective on shares of Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price target on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Stifel Nicolaus raised their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Citigroup dropped their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $110.09.

Veralto Price Performance

Shares of VLTO opened at $95.45 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The firm has a 50-day simple moving average of $94.38 and a 200-day simple moving average of $100.10. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. On average, equities research analysts anticipate that Veralto will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, March 31st. Veralto’s dividend payout ratio is presently 12.57%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the sale, the senior vice president now owns 17,434 shares in the company, valued at $1,633,042.78. The trade was a 64.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,578 shares of company stock worth $6,192,048. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Veralto

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Veralto by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock worth $2,989,011,000 after buying an additional 146,234 shares during the period. Amundi lifted its stake in shares of Veralto by 2.3% in the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after purchasing an additional 158,342 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Veralto by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after purchasing an additional 733,056 shares during the period. Pictet Asset Management Holding SA increased its position in Veralto by 1.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock worth $485,304,000 after purchasing an additional 54,795 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Veralto by 9.7% in the fourth quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock valued at $462,538,000 after buying an additional 401,228 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.