SlateStone Wealth LLC Takes $485,000 Position in Veralto Co. (NYSE:VLTO)

SlateStone Wealth LLC acquired a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, HoldingsChannel reports. The firm acquired 5,902 shares of the company’s stock, valued at approximately $485,000.

Other hedge funds have also made changes to their positions in the company. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new position in shares of Veralto in the 4th quarter valued at about $26,000. First Command Advisory Services Inc. purchased a new position in Veralto during the 4th quarter worth approximately $25,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto during the 4th quarter worth approximately $27,000. Finally, Dougherty Wealth Advisers LLC purchased a new position in Veralto during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of Veralto 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 completion of the sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VLTO. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Veralto Price Performance

NYSE VLTO traded up $2.25 during mid-day trading on Tuesday, hitting $93.48. The stock had a trading volume of 1,437,325 shares, compared to its average volume of 1,585,110. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The company has a 50 day simple moving average of $87.83 and a 200 day simple moving average of $79.93. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $93.56.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. On average, equities research analysts predict that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

The business 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.39%. 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.