Wendell David Associates Inc. Invests $1.86 Million in Veralto Co. (NYSE:VLTO)

Wendell David Associates Inc. acquired a new position in Veralto Co. (NYSE:VLTOFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,555 shares of the company’s stock, valued at approximately $1,855,000.

A number of other hedge funds have also recently added to or reduced their stakes in VLTO. Neville Rodie & Shaw Inc. acquired a new position in Veralto in the fourth quarter worth $1,732,000. Anchor Investment Management LLC acquired a new position in Veralto in the fourth quarter worth $117,000. Park National Corp OH acquired a new position in Veralto in the fourth quarter worth $1,243,000. M&R Capital Management Inc. acquired a new position in shares of Veralto during the fourth quarter valued at $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Veralto during the fourth quarter valued at $285,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VLTO. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Argus started coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Wolfe Research started coverage on shares of Veralto in a research note on Wednesday, December 13th. They set a “peer perform” rating on the stock. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.36.

Check Out Our Latest Analysis on VLTO

Veralto Trading Down 1.2 %

Shares of VLTO opened at $87.56 on Tuesday. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $90.69. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The firm has a 50-day simple moving average of $84.84.

Veralto (NYSE:VLTOGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.41%.

Veralto Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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