Capital Analysts LLC Acquires New Stake in Veralto Co. (NYSE:VLTO)

Capital Analysts LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,778 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also made changes to their positions in the company. Sugarloaf Wealth Management LLC acquired a new position in Veralto in the fourth quarter worth approximately $25,000. Blue Trust Inc. acquired a new position in Veralto in the 4th quarter worth approximately $26,000. Dougherty Wealth Advisers LLC acquired a new position in Veralto in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. acquired a new position in Veralto in the 4th quarter worth approximately $29,000. Finally, Gradient Investments LLC boosted its stake in Veralto by 2,678.6% in the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock worth $32,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $90.55 on Thursday. The firm’s 50-day moving average is $87.42 and its 200-day moving average is $79.66. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $92.15. 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 (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The business 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 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%.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of Veralto 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 sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. The Goldman Sachs Group started coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. 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 note on Wednesday. Argus started coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.36.

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.