VeraBank N.A. Invests $257,000 in Veralto Co. (NYSE:VLTO)

VeraBank N.A. purchased a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,125 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. purchased a new position in shares of Veralto during the 4th quarter valued at approximately $1,732,000. Anchor Investment Management LLC acquired a new stake in shares of Veralto during the fourth quarter worth $117,000. Park National Corp OH bought a new position in shares of Veralto in the 4th quarter worth about $1,243,000. M&R Capital Management Inc. acquired a new position in shares of Veralto in the 4th quarter valued at about $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Veralto during the 4th quarter valued at about $285,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VLTO shares. Robert W. Baird lifted their target price on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. BMO Capital Markets raised their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stifel Nicolaus lifted their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Finally, Royal Bank of Canada increased 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. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto presently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Melissa Aquino sold 8,041 shares of the company’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 completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction 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 completion of 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 owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO traded up $2.04 during midday trading on Friday, reaching $95.89. 940,032 shares of the stock were exchanged, compared to its average volume of 1,920,957. The firm has a 50 day simple moving average of $89.39 and a 200-day simple moving average of $81.12. The company has a quick ratio of 1.56, a current ratio of 1.83 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 $96.13.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

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.