Connecticut Wealth Management LLC Acquires New Position in Veralto Co. (NYSE:VLTO)

Connecticut Wealth Management LLC bought a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,572 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also bought and sold shares of VLTO. Impax Asset Management Group plc bought a new position in shares of Veralto during the fourth quarter valued at about $347,827,000. Fisher Asset Management LLC purchased a new stake in Veralto in the 4th quarter worth approximately $93,845,000. abrdn plc bought a new stake in shares of Veralto in the 4th quarter worth approximately $80,959,000. Vontobel Holding Ltd. bought a new position in shares of Veralto during the fourth quarter valued at approximately $60,495,000. Finally, Swiss National Bank purchased a new stake in Veralto in the fourth quarter worth $60,187,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on VLTO. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price target on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets raised their price target on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group started coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Stock Performance

Shares of VLTO traded up $1.24 during midday trading on Monday, hitting $97.13. The stock had a trading volume of 223,772 shares, compared to its average volume of 1,585,247. The stock’s 50 day moving average is $89.39 and its 200 day moving average is $81.18. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $97.24.

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

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Wednesday, March 27th.

Insider Buying and Selling

In other news, SVP Melissa Aquino sold 8,041 shares of the 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 transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the business’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 completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.