Everence Capital Management Inc. Takes Position in Veralto Co. (NYSE:VLTO)

Everence Capital Management Inc. bought 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 (SEC). The firm bought 19,564 shares of the company’s stock, valued at approximately $1,609,000.

A number of other large investors also recently modified their holdings of the stock. Factory Mutual Insurance Co. purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $9,260,000. State of Michigan Retirement System purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $4,940,000. Asset Management One Co. Ltd. purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $7,944,000. Vontobel Holding Ltd. purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $60,495,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $1,660,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Citigroup raised their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the business’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 value of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $90.89 on Wednesday. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $91.37. 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 stock’s 50-day moving average is $87.23 and its 200 day moving average is $79.58.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued 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 0.40%.

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.