Buffington Mohr McNeal Makes New $395,000 Investment in Veralto Co. (NYSE:VLTO)

Buffington Mohr McNeal acquired a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, Holdings Channel reports. The firm acquired 4,804 shares of the company’s stock, valued at approximately $395,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto in the 4th quarter valued at approximately $25,000. Blue Trust Inc. bought a new stake in shares of Veralto in the 4th quarter valued at approximately $26,000. Dougherty Wealth Advisers LLC bought a new stake in shares of Veralto in the 4th quarter valued at approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Veralto in the 4th quarter valued at approximately $29,000. Finally, Gradient Investments LLC increased its holdings in shares of Veralto by 2,678.6% in the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock valued at $32,000 after acquiring an additional 375 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VLTO. Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. BNP Paribas assumed 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. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Veralto Trading Up 0.8 %

VLTO stock traded up $0.74 during trading on Tuesday, reaching $90.60. 1,044,613 shares of the company’s stock were exchanged, compared to its average volume of 1,495,743. 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 1-year low of $65.51 and a 1-year high of $91.37. The company has a fifty day simple moving average of $86.97.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts expect that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.09 dividend. 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%.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company’s 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 in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

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.