NBW Capital LLC Purchases New Stake in Veralto Co. (NYSE:VLTO)

NBW Capital LLC bought a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,303 shares of the company’s stock, valued at approximately $601,000.

A number of other hedge funds also recently added to or reduced their stakes in VLTO. Sugarloaf Wealth Management LLC purchased a new position in Veralto in the 4th quarter worth about $25,000. Blue Trust Inc. bought a new position in Veralto in the 4th quarter worth approximately $26,000. Dougherty Wealth Advisers LLC bought a new stake in shares of Veralto during the fourth quarter valued at approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Veralto during the fourth quarter valued at approximately $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in Veralto in the 4th quarter valued at $29,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

Shares of Veralto stock traded down $1.35 during trading on Thursday, hitting $89.20. The stock had a trading volume of 1,202,183 shares, compared to its average volume of 1,517,213. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $92.15. The business’s 50-day moving average is $87.42 and its 200 day moving average is $79.66. 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 (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%.

Insider Transactions at Veralto

In other 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 transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VLTO. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Stifel Nicolaus increased their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Argus started coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

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.