Tufton Capital Management Makes New $212,000 Investment in Veralto Co. (NYSE:VLTO)

Tufton Capital Management acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,576 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new position in Veralto during the fourth quarter worth $25,000. Blue Trust Inc. purchased a new position in Veralto during the fourth quarter worth $26,000. Dougherty Wealth Advisers LLC purchased a new position in Veralto during the fourth quarter worth $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto during the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in shares of Veralto during the fourth quarter worth $29,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on VLTO. Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.36.

Veralto Trading Down 0.2 %

Shares of VLTO traded down $0.15 during trading hours on Thursday, hitting $90.40. 508,875 shares of the company were exchanged, compared to its average volume of 1,508,125. 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 firm has a fifty day simple moving average of $87.42 and a 200-day simple moving average of $79.66. Veralto Co. has a one year low of $65.51 and a one year high of $92.15.

Veralto (NYSE:VLTO) last released its 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 during the quarter, compared to analysts’ expectations of $1.25 billion. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, analysts anticipate that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’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 completion of 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.