Great Lakes Retirement Inc. Purchases Shares of 5,024 Veralto Co. (NYSE:VLTO)

Great Lakes Retirement Inc. bought a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 5,024 shares of the company’s stock, valued at approximately $413,000.

Several other institutional investors also recently bought and sold shares of VLTO. LS Investment Advisors LLC bought a new position in shares of Veralto in the 4th quarter worth about $1,660,000. City Holding Co. acquired a new position in shares of Veralto during the 4th quarter valued at $1,229,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in Veralto during the fourth quarter valued at about $2,738,000. Renaissance Investment Group LLC bought a new stake in Veralto in the fourth quarter worth about $1,385,000. Finally, Czech National Bank bought a new stake in Veralto during the fourth quarter worth approximately $3,158,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were 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 directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Veralto Price Performance

Shares of VLTO stock traded down $0.82 on Thursday, reaching $88.92. 867,570 shares of the company were exchanged, compared to its average volume of 1,480,591. The firm has a 50-day simple moving average of $84.21. Veralto Co. has a one year low of $65.51 and a one year high of $90.69. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. Equities research analysts expect that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Analysts Set New Price Targets

A number of brokerages have issued reports on VLTO. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. Stifel Nicolaus decreased their price target on Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Wolfe Research began coverage on Veralto in a research report on Wednesday, December 13th. They set a “peer perform” rating for the company. BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, Argus initiated coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target for the company. 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.com, Veralto has a consensus rating of “Moderate Buy” and an average price target of $91.36.

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.