Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $104.46

Veralto Co. (NYSE:VLTO) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $104.46.

Several analysts recently commented on VLTO shares. Stifel Nicolaus boosted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird increased their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. UBS Group assumed coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th.

Veralto Price Performance

NYSE:VLTO opened at $110.85 on Friday. Veralto has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $27.36 billion and a PE ratio of 33.78. The stock’s 50-day moving average price is $103.72 and its 200-day moving average price is $96.91.

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

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total transaction of $83,658.30. Following the sale, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the sale, the senior vice president now owns 11,918 shares in the company, valued at $1,324,089.80. The disclosure for this sale can be found here. Insiders sold a total of 25,096 shares of company stock worth $2,772,707 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after buying an additional 1,568,103 shares during the last quarter. Capital International Investors increased its holdings in shares of Veralto by 8.5% in the 1st quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock valued at $629,232,000 after acquiring an additional 553,021 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Veralto during the 4th quarter worth about $528,018,000. Bank of New York Mellon Corp lifted its stake in Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock worth $398,948,000 after purchasing an additional 200,657 shares during the last quarter. Finally, Norges Bank acquired a new position in Veralto in the fourth quarter valued at approximately $266,143,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.