Commerce Bank Invests $3.92 Million in Veralto Co. (NYSE:VLTO)

Commerce Bank bought a new stake in Veralto Co. (NYSE:VLTOFree Report) in the fourth quarter, HoldingsChannel reports. The fund bought 47,706 shares of the company’s stock, valued at approximately $3,924,000.

A number of other hedge funds have also added to or reduced their stakes in VLTO. Neville Rodie & Shaw Inc. bought a new position in Veralto in the fourth quarter valued at $1,732,000. Anchor Investment Management LLC bought a new position in Veralto in the fourth quarter valued at $117,000. Park National Corp OH acquired a new stake in Veralto in the fourth quarter valued at $1,243,000. M&R Capital Management Inc. acquired a new stake in Veralto in the fourth quarter valued at $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Veralto in the fourth quarter valued at $285,000. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 2.3 %

Veralto stock opened at $102.19 on Monday. The firm’s fifty day moving average is $92.46 and its 200 day moving average is $84.19. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $102.31.

Veralto (NYSE:VLTOGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Citigroup raised their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their target price on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Robert W. Baird lifted their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets lifted their price target on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Get Our Latest Stock Report on VLTO

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Veralto Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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