Veralto (NYSE:VLTO) Price Target Raised to $129.00

Veralto (NYSE:VLTO) had its target price increased by Barclays from $117.00 to $129.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Veralto in a report on Friday, October 30th. UBS Group raised their target price on Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Royal Bank Of Canada boosted their price target on shares of Veralto from $109.00 to $121.00 and gave the stock a “sector perform” rating in a research report on Monday. Robert W. Baird set a $111.00 price objective on Veralto in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Veralto from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and an average price target of $120.70.

Veralto Stock Performance

Shares of VLTO stock opened at $117.07 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.61 and a current ratio of 2.03. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 3.22 and a beta of 0.51. The company has a 50 day moving average price of $99.27 and a 200 day moving average price of $93.34. Veralto has a one year low of $80.03 and a one year high of $118.41.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Veralto had a return on equity of 35.08% and a net margin of 17.27%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Sell-side analysts anticipate that Veralto will post 4.51 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.13 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto’s payout ratio is 12.87%.

Insider Buying and Selling

In other Veralto news, CAO Bernard M. Skeete sold 1,514 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $112.58, for a total value of $170,446.12. Following the completion of the sale, the chief accounting officer owned 4,760 shares of the company’s stock, valued at $535,880.80. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 7,098 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the sale, the chief executive officer owned 120,060 shares of the company’s stock, valued at approximately $12,606,300. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 46,025 shares of company stock worth $4,977,963. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Veralto

Institutional investors have recently made changes to their positions in the business. Highland Investment Advisors LLC purchased a new stake in shares of Veralto in the 2nd quarter worth about $32,000. Provenance Wealth Advisors LLC increased its position in shares of Veralto by 997.4% during the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock valued at $40,000 after buying an additional 389 shares during the period. Putney Financial Group LLC bought a new position in Veralto in the third quarter worth about $42,000. Latitude Advisors LLC bought a new position in Veralto in the third quarter worth about $47,000. Finally, International Assets Investment Management LLC purchased a new stake in Veralto in the first quarter worth about $66,000. 91.28% of the stock is currently owned by institutional investors.

About Veralto

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.