VeraBank N.A. Buys New Shares in Veralto Co. (NYSE:VLTO)

VeraBank N.A. acquired a new position in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,125 shares of the company’s stock, valued at approximately $257,000.

A number of other hedge funds also recently made changes to their positions in the stock. Factory Mutual Insurance Co. bought a new stake in Veralto during the fourth quarter valued at about $9,260,000. State of Michigan Retirement System purchased a new position in shares of Veralto in the fourth quarter worth $4,940,000. Asset Management One Co. Ltd. bought a new position in shares of Veralto during the fourth quarter worth $7,944,000. Vontobel Holding Ltd. purchased a new position in Veralto during the fourth quarter valued at $60,495,000. Finally, OLD National Bancorp IN bought a new stake in Veralto in the 4th quarter valued at $876,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

Shares of Veralto stock traded up $2.04 on Friday, hitting $95.89. The company’s stock had a trading volume of 940,032 shares, compared to its average volume of 1,920,957. 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 Co. has a 1 year low of $65.51 and a 1 year high of $96.13. The firm has a fifty day moving average price of $89.39 and a 200-day moving average price of $81.12.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The firm’s revenue was up 1.7% on a year-over-year basis. Equities analysts forecast that Veralto Co. will post 3.34 EPS for the current year.

Veralto Announces Dividend

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

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction 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 owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were 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 approximately $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mattias Bystrom sold 500 shares of the company’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 sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on VLTO. Royal Bank of Canada increased their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Argus started coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. BMO Capital Markets lifted their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Company 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.