SouthState Corp Purchases Shares of 3,234 Veralto Co. (NYSE:VLTO)

SouthState Corp purchased a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,234 shares of the company’s stock, valued at approximately $266,000.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank purchased a new position in shares of Veralto during the 4th quarter valued at about $4,578,000. SRS Capital Advisors Inc. purchased a new position in Veralto during the fourth quarter valued at approximately $1,006,000. Natixis Advisors L.P. bought a new position in shares of Veralto in the fourth quarter worth approximately $10,663,000. First Horizon Advisors Inc. purchased a new stake in shares of Veralto in the fourth quarter worth $81,000. Finally, Swiss National Bank bought a new stake in shares of Veralto during the 4th quarter valued at $60,187,000. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 2.2 %

Shares of NYSE:VLTO traded up $2.04 during trading on Friday, hitting $95.89. The company had a trading volume of 940,032 shares, compared to its average volume of 1,920,957. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The company has a fifty day simple moving average of $89.20 and a two-hundred day simple moving average of $80.93. Veralto Co. has a one year low of $65.51 and a one year high of $96.13.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders 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%.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of analyst reports. Robert W. Baird increased their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Citigroup upped their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Activity

In other Veralto 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 transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The disclosure for this sale can be found here. 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.