Veralto Corporation (NYSE:VLTO) Stock Has Average Target Price of $120.70

Shares of Veralto Corporation (NYSE:VLTO – Get Free Report) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $120.70.

VLTO has been the topic of several research analyst reports. Wolfe Research assumed coverage on shares of Veralto in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price objective on the stock. Barclays lifted their target price on shares of Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. UBS Group boosted their price target on shares of Veralto from $104.00 to $106.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 price target on shares of Veralto in a report on Friday, October 30th. Finally, Robert W. Baird set a $111.00 price objective on shares of Veralto in a research report on Thursday, July 30th.

Get Our Latest Research Report on Veralto

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 36,427 shares of Veralto stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the completion of the sale, the senior vice president owned 8,565 shares of the company’s stock, valued at $932,642.85. The trade was a 80.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of Veralto stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $116.30, for a total value of $1,054,724.70. Following the sale, the senior vice president directly owned 35,536 shares of the company’s stock, valued at approximately $4,132,836.80. This trade represents a 20.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 55,094 shares of company stock worth $6,032,688. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of large investors have recently modified their holdings of the company. MGO One Seven LLC grew its position in Veralto by 3.2% during the third quarter. MGO One Seven LLC now owns 3,477 shares of the company’s stock valued at $328,000 after acquiring an additional 107 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Veralto by 5.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,751 shares of the company’s stock worth $244,000 after acquiring an additional 131 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Veralto by 1.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 12,100 shares of the company’s stock worth $1,198,000 after acquiring an additional 141 shares during the last quarter. Nolet Wealth Management LLC boosted its stake in shares of Veralto by 1.0% in the 2nd quarter. Nolet Wealth Management LLC now owns 15,277 shares of the company’s stock valued at $1,355,000 after purchasing an additional 146 shares in the last quarter. Finally, North Dakota State Investment Board boosted its stake in shares of Veralto by 2.0% in the 3rd quarter. North Dakota State Investment Board now owns 7,517 shares of the company’s stock valued at $709,000 after purchasing an additional 150 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

Veralto stock opened at $118.79 on Monday. Veralto has a 1-year low of $80.03 and a 1-year high of $119.03. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $28.88 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51. The firm’s 50 day simple moving average is $101.22 and its 200 day simple moving average is $93.74.

Veralto (NYSE:VLTO – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.09 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, analysts expect that Veralto will post 4.51 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Veralto Company Profile

(Get Free Report)

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.

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Analyst Recommendations for Veralto (NYSE:VLTO)

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