Private Wealth Partners LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

Private Wealth Partners LLC bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 20,369 shares of the company’s stock, valued at approximately $1,676,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VLTO. Sugarloaf Wealth Management LLC purchased a new stake in Veralto during the fourth quarter valued at $25,000. First Command Advisory Services Inc. bought a new position in shares of Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new position in Veralto in the fourth quarter worth about $26,000. Dougherty Wealth Advisers LLC bought a new stake in Veralto during the fourth quarter worth approximately $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Veralto during the fourth quarter worth approximately $27,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Price Performance

Shares of NYSE VLTO traded up $0.33 during trading hours on Friday, reaching $94.12. The stock had a trading volume of 1,151,386 shares, compared to its average volume of 1,946,553. The business’s fifty day moving average price is $88.53 and its two-hundred day moving average price is $80.40. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and a consensus target price 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.