Buffington Mohr McNeal Acquires Shares of 4,804 Veralto Co. (NYSE:VLTO)

Buffington Mohr McNeal acquired a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,804 shares of the company’s stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Sugarloaf Wealth Management LLC purchased a new position in Veralto in the 4th quarter valued at $25,000. Blue Trust Inc. purchased a new position in shares of Veralto during the 4th quarter worth $26,000. Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto during the 4th quarter worth $27,000. Pinnacle Bancorp Inc. purchased a new position in shares of Veralto during the 4th quarter worth $29,000. Finally, Gradient Investments LLC raised its holdings in shares of Veralto by 2,678.6% during the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock worth $32,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other 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 in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

VLTO has been the topic of several analyst reports. BMO Capital Markets initiated coverage on Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target on the stock. Argus initiated coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. The Goldman Sachs Group initiated coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Finally, 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 on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Veralto Stock Performance

VLTO traded up $0.74 on Tuesday, reaching $90.60. The company’s stock had a trading volume of 1,044,613 shares, compared to its average volume of 1,495,743. The business has a 50 day simple moving average of $86.97. 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 fifty-two week low of $65.51 and a fifty-two week high of $91.37.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. Veralto’s quarterly revenue was up 3.2% compared to the same quarter last year. Research 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. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

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.