Veralto Corporation (NYSE:VLTO) Given Consensus Recommendation of “Hold” by Brokerages

Veralto Corporation (NYSE:VLTO) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $111.18.

Several equities research analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Robert W. Baird boosted their price objective on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Northcoast Research assumed coverage on Veralto in a research note on Tuesday, May 6th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Citigroup reduced their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th.

Veralto Trading Up 0.1%

Shares of VLTO stock opened at $103.38 on Tuesday. Veralto has a 12-month low of $83.86 and a 12-month high of $115.00. The company has a current ratio of 2.19, a quick ratio of 1.92 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average price is $100.81 and its 200-day moving average price is $98.48. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 4.13 and a beta of 0.91.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 45.63% and a net margin of 16.56%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that Veralto will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is currently 12.57%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 848 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $100.55, for a total value of $85,266.40. Following the transaction, the senior vice president owned 8,433 shares of the company’s stock, valued at $847,938.15. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 17,434 shares in the company, valued at approximately $1,633,042.78. This trade represents a 64.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,913 shares of company stock valued at $4,339,370 over the last 90 days. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VLTO. Norges Bank bought a new position in Veralto in the fourth quarter worth approximately $289,028,000. First Trust Advisors LP lifted its holdings in Veralto by 222.3% during the fourth quarter. First Trust Advisors LP now owns 2,602,399 shares of the company’s stock worth $265,054,000 after buying an additional 1,794,992 shares during the period. Nuveen LLC purchased a new stake in Veralto during the first quarter worth $172,399,000. Alliancebernstein L.P. lifted its holdings in Veralto by 28.0% during the first quarter. Alliancebernstein L.P. now owns 6,235,563 shares of the company’s stock worth $607,656,000 after buying an additional 1,363,502 shares during the period. Finally, Champlain Investment Partners LLC purchased a new stake in Veralto during the fourth quarter worth $133,058,000. Institutional investors 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.