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

30 Sep 2024, 11:22 by Danessa Lincoln · The Markets Daily

Veralto Co. (NYSE:VLTO – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $104.46.

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird raised their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th.

View Our Latest Report on Veralto

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock valued at $2,772,707. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several institutional investors and hedge funds have recently modified their holdings of VLTO. Vanguard Group Inc. grew its stake in Veralto by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock valued at $2,431,869,000 after acquiring an additional 1,568,103 shares during the period. Capital International Investors increased its stake in shares of Veralto by 8.5% during the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after purchasing an additional 553,021 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Veralto by 5.0% during the 2nd 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. Swedbank AB lifted its stake in Veralto by 4.9% in the 2nd quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after buying an additional 132,105 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Veralto by 33,575.5% in the 4th quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock worth $207,318,000 after buying an additional 2,512,791 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

NYSE VLTO opened at $110.30 on Wednesday. The business’s fifty day moving average is $108.15 and its 200 day moving average is $99.57. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $112.77. 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 company has a market capitalization of $27.23 billion and a PE ratio of 29.65.

Veralto (NYSE:VLTO – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business posted $0.80 EPS. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Veralto will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 9.68%.

Veralto Company Profile

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