Veralto (NYSE:VLTO) Stock Price Down 4.9%

Veralto Co. (NYSE:VLTO) shares traded down 4.9% during trading on Wednesday . The stock traded as low as $88.74 and last traded at $89.11. 753,496 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,588,291 shares. The stock had previously closed at $93.72.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Robert W. Baird lifted their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada lifted their price objective on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Stock Up 0.4 %

The company has a 50 day moving average price of $88.53 and a 200-day moving average price of $80.36. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VLTO. Factory Mutual Insurance Co. bought a new stake in Veralto during the 4th quarter valued at approximately $9,260,000. State of Michigan Retirement System bought a new stake in Veralto during the 4th quarter valued at approximately $4,940,000. Asset Management One Co. Ltd. bought a new stake in Veralto during the 4th quarter valued at approximately $7,944,000. Vontobel Holding Ltd. bought a new stake in Veralto during the 4th quarter valued at approximately $60,495,000. Finally, LS Investment Advisors LLC bought a new stake in Veralto during the 4th quarter valued at approximately $1,660,000. Institutional investors and hedge funds 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.