Private Wealth Partners LLC Purchases New Position in Veralto Co. (NYSE:VLTO)

Private Wealth Partners LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,369 shares of the company’s stock, valued at approximately $1,676,000.

A number of other institutional investors have also recently bought and sold shares of VLTO. Impax Asset Management Group plc bought a new stake in Veralto in the 4th quarter valued at about $347,827,000. abrdn plc bought a new stake in Veralto in the 4th quarter valued at about $80,959,000. Vontobel Holding Ltd. bought a new stake in Veralto in the 4th quarter valued at about $60,495,000. DekaBank Deutsche Girozentrale bought a new stake in Veralto in the 4th quarter valued at about $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Veralto in the 4th quarter valued at about $47,229,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.4 %

NYSE:VLTO traded up $0.33 on Friday, hitting $94.12. The company had a trading volume of 1,151,386 shares, compared to its average volume of 1,946,553. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.40. The firm has a 50 day moving average of $88.53 and a two-hundred day moving average of $80.40. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Veralto Co. will post 3.34 EPS for the current year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VLTO. BMO Capital Markets boosted their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target for the company. Royal Bank of Canada upped their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Argus initiated coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

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.