Veralto (NYSE:VLTO) Price Target Raised to $101.00 at BMO Capital Markets

Veralto (NYSE:VLTO) had its price target upped by BMO Capital Markets from $97.00 to $101.00 in a research report report published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms have also issued reports on VLTO. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a report on Wednesday, January 10th. They set a hold rating and a $79.00 target price on the stock. BNP Paribas initiated coverage on Veralto in a report on Tuesday, March 12th. They set an outperform rating and a $103.00 target price on the stock. Argus initiated coverage on Veralto in a report on Tuesday, January 9th. They set a buy rating and a $90.00 target price on the stock. Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $95.18.

Veralto Price Performance

VLTO stock opened at $93.79 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. Veralto has a 1 year low of $65.51 and a 1 year high of $95.40. The stock’s fifty day moving average is $88.37 and its two-hundred day moving average is $80.23.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction that occurred 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 directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VLTO. Sugarloaf Wealth Management LLC bought a new position in Veralto in the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. bought a new position in Veralto in the 4th quarter worth approximately $25,000. Blue Trust Inc. bought a new position in Veralto in the 4th quarter worth approximately $26,000. Delta Asset Management LLC TN increased its position in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the period. Finally, Dougherty Wealth Advisers LLC bought a new position in Veralto in the 4th quarter worth approximately $27,000. 91.28% of the stock is owned by institutional investors.

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.