Flossbach Von Storch AG Invests $582,000 in Veralto Co. (NYSE:VLTO)

Flossbach Von Storch AG bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,071 shares of the company’s stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. Fishman Jay A Ltd. MI grew its stake in Veralto by 6.0% during the 4th 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 in the last quarter. Sugarloaf Wealth Management LLC acquired a new position in Veralto in the 4th quarter valued at approximately $25,000. Blue Trust Inc. purchased a new stake in Veralto in the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Veralto during the 4th quarter valued at $27,000. Finally, Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Finally, Argus initiated coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.36.

Insider Activity at Veralto

In other news, insider Mattias Bystrom sold 500 shares of Veralto 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 sale, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Down 0.4 %

Shares of VLTO stock traded down $0.35 during trading hours on Thursday, reaching $90.20. 179,594 shares of the company’s stock were exchanged, compared to its average volume of 1,503,496. The business has a fifty day moving average price of $87.42 and a 200-day moving average price of $79.66. 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 $92.15.

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 analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $0.80 earnings per share. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

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.