BMO Capital Markets Raises Veralto (NYSE:VLTO) Price Target to $119.00

Veralto (NYSE:VLTO) had its price objective raised by BMO Capital Markets from $117.00 to $119.00 in a research report report published on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a hold rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a buy rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the company a hold rating in a research note on Monday, July 29th. Robert W. Baird boosted their price target on Veralto from $98.00 to $112.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus upped their price objective on Veralto from $110.00 to $117.00 and gave the company a buy rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Veralto has an average rating of Hold and a consensus price target of $105.67.

Veralto Trading Up 0.0 %

Shares of NYSE:VLTO opened at $111.31 on Monday. The company’s 50-day moving average price is $109.06 and its two-hundred day moving average price is $100.14. Veralto has a one year low of $65.51 and a one year high of $112.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market capitalization of $27.48 billion and a PE ratio of 33.62.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.32%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The disclosure for this sale can be found here. Insiders sold 39,039 shares of company stock worth $4,310,335 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Veralto

Large investors have recently made changes to their positions in the company. Goodman Advisory Group LLC bought a new stake in Veralto during the second quarter worth $26,000. LRI Investments LLC bought a new stake in shares of Veralto during the 1st quarter worth $30,000. Fairscale Capital LLC acquired a new stake in Veralto in the second quarter valued at about $30,000. Newbridge Financial Services Group Inc. bought a new position in Veralto in the fourth quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.