Duff & Phelps Investment Management Co. Acquires 232,436 Shares of Veralto Co. (NYSE:VLTO)

Duff & Phelps Investment Management Co. raised its holdings in Veralto Co. (NYSE:VLTO) by 774.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,436 shares of the company’s stock after buying an additional 232,436 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Veralto were worth $21,588,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

VLTO has been the subject of several recent research reports. Citigroup lifted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Stifel Nicolaus increased their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird upped their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Argus assumed coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of the 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 sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Melissa Aquino sold 8,041 shares of the 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 transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Veralto Stock Down 0.4 %

NYSE:VLTO traded down $0.36 during trading hours on Tuesday, reaching $94.53. The company had a trading volume of 356,733 shares, compared to its average volume of 1,607,595. The firm’s 50 day moving average price is $88.71 and its 200-day moving average price is $80.59. 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 52 week low of $65.51 and a 52 week high of $95.56.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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 issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Veralto 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.