Verdence Capital Advisors LLC Takes $977,000 Position in Veralto Co. (NYSE:VLTO)

Verdence Capital Advisors LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,871 shares of the company’s stock, valued at approximately $977,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sugarloaf Wealth Management LLC acquired a new stake in shares of Veralto in the 4th quarter worth $25,000. Blue Trust Inc. acquired a new stake in Veralto in the fourth quarter valued at $26,000. Dougherty Wealth Advisers LLC purchased a new stake in Veralto during the fourth quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Veralto during the 4th quarter worth approximately $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in Veralto in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $88.89 on Monday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $92.15. The company’s fifty day moving average is $87.68 and its 200 day moving average is $79.82.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, sell-side analysts predict that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. 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 target for the company. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Citigroup boosted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada raised 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

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.