2,572 Shares in Veralto Co. (NYSE:VLTO) Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC bought a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,572 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors also recently made changes to their positions in VLTO. Impax Asset Management Group plc acquired a new stake in shares of Veralto in the 4th quarter worth approximately $347,827,000. Fisher Asset Management LLC acquired a new position in Veralto during the fourth quarter worth about $93,845,000. abrdn plc purchased a new stake in shares of Veralto in the fourth quarter valued at about $80,959,000. Vontobel Holding Ltd. acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $60,495,000. Finally, Swiss National Bank acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $60,187,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. BMO Capital Markets boosted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Argus assumed coverage on shares of Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and an average price target of $95.18.

Insider Activity

In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Veralto Price Performance

Veralto stock traded up $1.24 during trading on Monday, reaching $97.13. The company had a trading volume of 223,772 shares, compared to its average volume of 1,585,247. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $97.24. The stock’s 50 day moving average price is $89.39 and its two-hundred day moving average price is $81.18.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%.

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.