Veralto (NYSE:VLTO) PT Raised to $98.00

Veralto (NYSE:VLTO) had its price objective lifted by stock analysts at Robert W. Baird from $90.00 to $98.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 4.12% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price for the company. The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Price Performance

Shares of VLTO stock opened at $94.12 on Thursday. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The business has a 50 day simple moving average of $88.53 and a 200 day simple moving average of $80.36. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Veralto

A number of hedge funds have recently modified their holdings of VLTO. Neville Rodie & Shaw Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at $1,732,000. Anchor Investment Management LLC acquired a new position in shares of Veralto in the fourth quarter worth $117,000. Park National Corp OH acquired a new position in shares of Veralto in the fourth quarter worth $1,243,000. M&R Capital Management Inc. acquired a new position in shares of Veralto in the fourth quarter worth $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Veralto in the fourth quarter worth $285,000. Hedge funds and other institutional investors 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.