Veralto (NYSE:VLTO) Sets New 1-Year High – What’s Next?

Veralto Co. (NYSE:VLTO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $113.26 and last traded at $113.26, with a volume of 33420 shares changing hands. The stock had previously closed at $112.18.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VLTO shares. Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus upped their target price on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. UBS Group assumed coverage on Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Veralto presently has a consensus rating of “Hold” and an average price target of $105.67.

Veralto Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The company’s 50 day moving average is $109.55 and its 200 day moving average is $100.88. The stock has a market cap of $27.64 billion and a price-to-earnings ratio of 35.06.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. Research analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.32%. Veralto’s dividend payout ratio (DPR) is currently 11.29%.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock valued at $4,310,335 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of hedge funds and other institutional investors have recently made changes to their positions in VLTO. Oregon Public Employees Retirement Fund increased its holdings in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Perkins Coie Trust Co lifted its stake in shares of Veralto by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 7,253 shares of the company’s stock valued at $811,000 after purchasing an additional 125 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Veralto by 2.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,406 shares of the company’s stock worth $516,000 after purchasing an additional 142 shares during the period. Graypoint LLC increased its position in Veralto by 3.8% during the 2nd quarter. Graypoint LLC now owns 4,407 shares of the company’s stock worth $421,000 after purchasing an additional 160 shares in the last quarter. Finally, Mirador Capital Partners LP raised its holdings in Veralto by 2.3% in the third quarter. Mirador Capital Partners LP now owns 7,147 shares of the company’s stock valued at $799,000 after buying an additional 160 shares during the period. 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.