Duff & Phelps Investment Management Co. Has $21.59 Million Holdings in Veralto Co. (NYSE:VLTO)

Duff & Phelps Investment Management Co. increased its position in Veralto Co. (NYSE:VLTO) by 774.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 262,436 shares of the company’s stock after purchasing an additional 232,436 shares during the period. Duff & Phelps Investment Management Co. owned about 0.11% of Veralto worth $21,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. purchased a new stake in shares of Veralto in the fourth quarter worth approximately $1,732,000. Anchor Investment Management LLC acquired a new stake in Veralto during the fourth quarter valued at $117,000. Park National Corp OH acquired a new position in Veralto in the 4th quarter worth about $1,243,000. M&R Capital Management Inc. purchased a new stake in shares of Veralto during the 4th quarter worth about $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Veralto during the 4th quarter valued at about $285,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s 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 transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Mattias Bystrom sold 500 shares of Veralto 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 transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective for the company. The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Stock Performance

Veralto stock traded down $0.36 during mid-day trading on Tuesday, reaching $94.53. The company had a trading volume of 356,733 shares, compared to its average volume of 1,607,595. The company has a 50 day moving average of $88.71 and a 200-day moving average of $80.59. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $95.56. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal 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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

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.