Veralto Co. (NYSE:VLTO) Shares Purchased by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of Veralto Co. (NYSE:VLTO) by 37.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,521 shares of the company’s stock after acquiring an additional 1,510 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Veralto were worth $454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Impax Asset Management Group plc acquired a new position in shares of Veralto in the 4th quarter valued at about $347,827,000. abrdn plc purchased a new position in Veralto in the fourth quarter valued at about $80,959,000. Vontobel Holding Ltd. acquired a new stake in shares of Veralto in the fourth quarter valued at about $60,495,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Veralto during the 4th quarter valued at about $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Veralto during the 4th quarter worth approximately $47,229,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on VLTO shares. BMO Capital Markets increased their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Argus started coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Veralto presently has an average rating of “Moderate Buy” and an average price target of $95.18.

Veralto Trading Up 2.2 %

Shares of NYSE VLTO opened at $95.89 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm’s 50-day moving average price is $89.20 and its two-hundred day moving average price is $80.93. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $96.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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. On average, research analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, March 27th.

Insider Transactions at Veralto

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

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.