SlateStone Wealth LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

SlateStone Wealth LLC bought a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,902 shares of the company’s stock, valued at approximately $485,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Sugarloaf Wealth Management LLC purchased a new position in Veralto during the fourth quarter valued at $25,000. First Command Advisory Services Inc. bought a new stake in shares of Veralto in the 4th quarter worth $25,000. Blue Trust Inc. bought a new stake in shares of Veralto in the 4th quarter worth $26,000. Dougherty Wealth Advisers LLC bought a new stake in shares of Veralto in the 4th quarter worth $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Veralto in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO traded up $2.25 during trading on Tuesday, reaching $93.48. The company had a trading volume of 1,437,325 shares, compared to its average volume of 1,585,110. The business has a 50 day simple moving average of $87.83 and a 200-day simple moving average of $79.93. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $93.56. 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 issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, research analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on VLTO shares. Argus started coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. BMO Capital Markets assumed coverage on Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.36.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto 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 owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Veralto 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.