OLD National Bancorp IN Buys Shares of 10,652 Veralto Co. (NYSE:VLTO)

OLD National Bancorp IN purchased a new position 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 purchased 10,652 shares of the company’s stock, valued at approximately $876,000.

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

Veralto Stock Performance

Shares of Veralto stock opened at $93.75 on Wednesday. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $93.85. The firm’s 50-day simple moving average is $88.06 and its 200-day simple moving average is $80.05. 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 released its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 company earned $0.80 EPS. Veralto’s revenue was up 3.2% compared to the same quarter last year. Equities research 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 $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 0.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VLTO. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. BMO Capital Markets began coverage on Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target for the company. Stifel Nicolaus boosted their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada upped their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Finally, Argus started coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.36.

Insider Buying and Selling at Veralto

In other 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 transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

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.