Parisi Gray Wealth Management Purchases Shares of 3,127 Veralto Co. (NYSE:VLTO)

Parisi Gray Wealth Management acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,127 shares of the company’s stock, valued at approximately $257,000.

Several other large investors also recently added to or reduced their stakes in VLTO. Sugarloaf Wealth Management LLC purchased a new stake in shares of Veralto in the 4th quarter worth approximately $25,000. Fortitude Family Office LLC bought a new position in shares of Veralto during the 4th quarter worth approximately $35,000. North Star Investment Management Corp. bought a new position in shares of Veralto during the 4th quarter worth approximately $51,000. Compagnie Lombard Odier SCmA bought a new position in shares of Veralto during the 4th quarter worth approximately $58,000. Finally, CVA Family Office LLC bought a new position in shares of Veralto during the 4th quarter worth approximately $58,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Veralto Stock Down 0.3 %

Veralto stock traded down $0.28 during trading hours on Thursday, reaching $89.46. 34,607 shares of the stock were exchanged, compared to its average volume of 1,469,592. The company’s 50 day moving average price is $84.21. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $90.69.

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

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Analyst Upgrades and Downgrades

Several research firms recently commented on VLTO. 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 objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. BMO Capital Markets began coverage on shares of Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Finally, Wolfe Research assumed coverage on shares of Veralto in a report on Wednesday, December 13th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

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.