TD Cowen Begins Coverage on Veralto (NYSE:VLTO)

TD Cowen started coverage on shares of Veralto (NYSE:VLTOFree Report) in a research note published on Monday, Marketbeat reports. The brokerage issued a hold rating and a $95.00 price objective on the stock.

A number of other brokerages also recently weighed in on VLTO. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 price target for the company. BMO Capital Markets increased their price target on shares of Veralto from $97.00 to $101.00 and gave the company an outperform rating in a report on Thursday, April 25th. Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a report on Thursday, April 25th. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $96.00.

View Our Latest Stock Analysis on VLTO

Veralto Price Performance

NYSE VLTO opened at $101.22 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $96.78 and a 200 day simple moving average of $87.54. Veralto has a 1 year low of $65.51 and a 1 year high of $102.58.

Veralto (NYSE:VLTOGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Veralto will post 3.34 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, June 28th.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sugarloaf Wealth Management LLC bought a new position in Veralto during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. bought a new position in Veralto during the 4th quarter worth approximately $25,000. Blue Trust Inc. bought a new position in Veralto during the 4th quarter worth approximately $26,000. Delta Asset Management LLC TN boosted its stake in Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after acquiring an additional 216 shares during the last quarter. Finally, Dougherty Wealth Advisers LLC bought a new position in Veralto during the 4th quarter worth approximately $27,000. Institutional investors own 91.28% of the company’s stock.

About Veralto

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Veralto (NYSE:VLTO)

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