Veralto (NYSE:VLTO) Reaches New 12-Month High at $95.56

Shares of Veralto Co. (NYSE:VLTO) hit a new 52-week high on Monday . The stock traded as high as $95.56 and last traded at $94.92, with a volume of 816637 shares trading hands. The stock had previously closed at $94.12.

Analysts Set New Price Targets

Several research analysts recently weighed in on VLTO shares. BMO Capital Markets raised their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group began coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Stifel Nicolaus increased their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Citigroup increased their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada increased their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Price Performance

The stock has a 50-day simple moving average of $88.53 and a 200 day simple moving average of $80.44. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

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

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Insider Transactions at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto 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 transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently bought and sold shares of VLTO. Neville Rodie & Shaw Inc. bought a new stake in shares of Veralto during the fourth quarter worth $1,732,000. Anchor Investment Management LLC bought a new stake in Veralto in the fourth quarter valued at about $117,000. Park National Corp OH bought a new stake in Veralto in the fourth quarter valued at about $1,243,000. M&R Capital Management Inc. acquired a new position in Veralto in the fourth quarter valued at about $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Veralto in the fourth quarter valued at about $285,000. Institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

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.