Mutual of America Capital Management LLC Invests $5.06 Million in Veralto Co. (NYSE:VLTO)

Mutual of America Capital Management LLC purchased a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,476 shares of the company’s stock, valued at approximately $5,057,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fishman Jay A Ltd. MI grew its position in Veralto by 6.0% during the fourth quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after acquiring an additional 238 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new stake in Veralto in the fourth quarter worth $25,000. Blue Trust Inc. purchased a new stake in Veralto in the fourth quarter worth $26,000. Dougherty Wealth Advisers LLC purchased a new stake in Veralto in the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. purchased a new stake in Veralto in the fourth quarter worth $29,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VLTO. BMO Capital Markets initiated coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada increased their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the 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 transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

VLTO stock opened at $87.37 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $90.69. The business has a 50 day simple moving average of $86.68.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities analysts predict that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

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

About Veralto

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.