TD Cowen Increases Veralto (NYSE:VLTO) Price Target to $100.00

Veralto (NYSE:VLTO) had its target price upped by TD Cowen from $95.00 to $100.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

VLTO has been the topic of several other research reports. Royal Bank of Canada raised their price objective on Veralto from $101.00 to $108.00 and gave the company a sector perform rating in a report on Monday, July 29th. Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. BMO Capital Markets raised their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an outperform rating in a report on Thursday, April 25th. Robert W. Baird boosted their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the company a buy rating in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $103.33.

Veralto Price Performance

Shares of VLTO stock opened at $104.84 on Tuesday. The business has a fifty day simple moving average of $99.58 and a 200 day simple moving average of $92.03. The company has a market cap of $25.88 billion and a P/E ratio of 32.34. The company has a quick ratio of 1.56, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto has a twelve month low of $65.51 and a twelve month high of $107.86.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. On average, sell-side analysts forecast that Veralto will post 3.45 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, June 28th.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Honeycutt 13,191 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold a total of 4,055 shares of company stock worth $428,345 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Several hedge funds and other institutional investors have recently modified their holdings of VLTO. First Command Advisory Services Inc. acquired a new stake in Veralto in the 4th quarter valued at $25,000. Blue Trust Inc. bought a new stake in shares of Veralto during the fourth quarter worth about $26,000. Delta Asset Management LLC TN raised its holdings in shares of Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Veralto in the 4th quarter valued at about $27,000. Finally, Johnson Financial Group Inc. acquired a new position in Veralto during the 4th quarter valued at about $27,000. 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.