Veralto (NYSE:VLTO) Stock Price Expected to Rise, Barclays Analyst Says

Veralto (NYSE:VLTO) had its price objective hoisted by stock analysts at Barclays from $117.00 to $129.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.42% from the company’s previous close.

VLTO has been the topic of a number of other reports. Jefferies Financial Group restated a “buy” rating and set a $135.00 price target on shares of Veralto in a research report on Friday. Royal Bank Of Canada raised their price objective on shares of Veralto from $109.00 to $121.00 and gave the company a “sector perform” rating in a research note on Monday. Wolfe Research began coverage on Veralto in a report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 target price on the stock. Stifel Nicolaus boosted their target price on Veralto from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday. Finally, BNP Paribas Exane restated an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

Veralto Stock Performance

Shares of NYSE VLTO traded up $4.67 during midday trading on Monday, hitting $115.78. 3,865,008 shares of the company’s stock were exchanged, compared to its average volume of 1,973,036. Veralto has a twelve month low of $80.03 and a twelve month high of $116.71. The firm has a market cap of $28.23 billion, a P/E ratio of 28.66, a PEG ratio of 3.08 and a beta of 0.62. The stock’s 50 day moving average price is $98.23 and its 200-day moving average price is $93.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.61.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Veralto had a return on equity of 35.54% and a net margin of 17.27%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. Equities research analysts anticipate that Veralto will post 4.51 EPS for the current year.

Insider Activity

In related news, SVP Surekha Trivedi sold 986 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.05, for a total transaction of $95,691.30. Following the completion of the sale, the senior vice president directly owned 8,565 shares of the company’s stock, valued at $831,233.25. This represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jennifer Honeycutt sold 7,098 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total transaction of $745,290.00. Following the sale, the chief executive officer owned 120,060 shares of the company’s stock, valued at $12,606,300. The trade was a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Highland Investment Advisors LLC bought a new stake in shares of Veralto during the 2nd quarter worth $32,000. Provenance Wealth Advisors LLC raised its position in shares of Veralto by 997.4% during the third quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock worth $40,000 after purchasing an additional 389 shares during the period. Putney Financial Group LLC acquired a new stake in shares of Veralto during the third quarter worth $42,000. Latitude Advisors LLC purchased a new stake in shares of Veralto during the third quarter valued at $47,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Veralto by 540.5% during the third quarter. North Star Investment Management Corp. now owns 711 shares of the company’s stock valued at $67,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

About Veralto

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.