Mission Wealth Management LP Makes New $294,000 Investment in Veralto Co. (NYSE:VLTO)

Mission Wealth Management LP acquired a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,570 shares of the company’s stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sugarloaf Wealth Management LLC purchased a new stake in shares of Veralto during the fourth quarter worth $25,000. First Command Advisory Services Inc. purchased a new position in Veralto during the fourth quarter worth approximately $25,000. Blue Trust Inc. purchased a new stake in Veralto in the 4th quarter valued at $26,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of Veralto in the 4th quarter worth $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto during the 4th quarter worth $27,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages recently issued reports on VLTO. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus raised their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Argus started coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Price Performance

Shares of Veralto stock opened at $95.89 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The business has a 50-day moving average of $89.20 and a 200 day moving average of $80.93. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $96.13.

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

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, March 27th.

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.