Veralto (NYSE:VLTO) Hits New 52-Week High – Here’s Why

Veralto Co. (NYSE:VLTO)’s share price reached a new 52-week high on Tuesday . The company traded as high as $114.61 and last traded at $113.62, with a volume of 35852 shares traded. The stock had previously closed at $113.29.

Analyst Ratings Changes

VLTO has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Robert W. Baird lifted their price target on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $108.00.

Veralto Stock Down 0.3 %

The firm’s 50-day moving average price is $110.39 and its two-hundred day moving average price is $101.71. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The firm has a market cap of $27.78 billion and a PE ratio of 35.27.

Veralto (NYSE:VLTO) last announced 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 firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, equities research analysts expect that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction that occurred 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 directly owns 12,671 shares in the company, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 in the last 90 days. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Veralto during the 4th quarter worth approximately $2,127,330,000. Swedbank AB acquired a new position in Veralto during the first quarter worth $237,864,000. Wellington Management Group LLP purchased a new position in Veralto in the fourth quarter worth $87,203,000. Capital International Investors lifted its holdings in Veralto by 8.5% in the first 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 period. Finally, Nordea Investment Management AB boosted its position in shares of Veralto by 753.8% during the 1st quarter. Nordea Investment Management AB now owns 527,040 shares of the company’s stock worth $47,154,000 after purchasing an additional 465,312 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.