Veralto (NYSE:VLTO) Stock Price Down 4.9%

Shares of Veralto Co. (NYSE:VLTO) 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 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 Analyst Weigh In

VLTO has been the topic of several recent research reports. Argus started coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.36.

Veralto Trading Down 1.4 %

The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The company’s 50 day moving average price is $88.06 and its 200 day moving average price is $80.05.

Veralto (NYSE:VLTO) last posted its earnings results 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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.39%.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were 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 in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Veralto

Several hedge funds have recently added to or reduced their stakes in the business. Neville Rodie & Shaw Inc. acquired a new position in shares of Veralto during the fourth quarter worth approximately $1,732,000. Anchor Investment Management LLC bought a new stake in Veralto in the 4th quarter valued at $117,000. Park National Corp OH bought a new stake in Veralto in the 4th quarter valued at $1,243,000. M&R Capital Management Inc. acquired a new stake in Veralto in the 4th quarter worth $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in shares of Veralto during the 4th quarter worth 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.