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

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

A number of other research firms have also issued reports on VLTO. Royal Bank of Canada increased their price target on Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research report on Thursday, February 8th. Citigroup increased their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They issued a buy rating and a $104.00 price target on the stock. Stifel Nicolaus increased their price target on Veralto from $92.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets started coverage on Veralto in a research report on Tuesday, February 27th. They issued an outperform rating and a $97.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $95.18.

Veralto Stock Up 0.4 %

NYSE VLTO 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 twelve month low of $65.51 and a twelve month high of $95.40. The stock has a fifty day simple moving average of $88.53 and a 200-day simple moving average of $80.44.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts expect that Veralto will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.38%.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto 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 transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

Several hedge funds have recently modified their holdings of the business. Factory Mutual Insurance Co. acquired a new position in Veralto during the fourth quarter worth $9,260,000. State of Michigan Retirement System acquired a new position in Veralto during the fourth quarter worth $4,940,000. Asset Management One Co. Ltd. acquired a new position in Veralto during the fourth quarter worth $7,944,000. Vontobel Holding Ltd. acquired a new position in Veralto during the fourth quarter worth $60,495,000. Finally, OLD National Bancorp IN acquired a new position in Veralto during the fourth quarter worth $876,000. 91.28% of the stock is owned by institutional investors and hedge funds.

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.