Highland Capital Management LLC Buys Shares of 3,955 Veralto Co. (NYSE:VLTO)

Highland Capital Management LLC purchased a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,955 shares of the company’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walter Public Investments Inc. bought a new stake in shares of Veralto in the 4th quarter worth about $7,157,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Veralto during the fourth quarter valued at approximately $6,092,000. Arthur M. Cohen & Associates LLC bought a new position in Veralto during the 4th quarter worth approximately $5,374,000. Nordea Investment Management AB acquired a new position in shares of Veralto in the 4th quarter worth approximately $5,075,000. Finally, DNB Asset Management AS acquired a new position in shares of Veralto in the 4th quarter worth approximately $4,711,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.5 %

VLTO stock opened at $89.75 on Thursday. The business has a 50-day moving average of $84.21. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $90.69.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on VLTO shares. Royal Bank of Canada raised their price objective on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Argus began coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target for the company. BMO Capital Markets started coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Stifel Nicolaus dropped their price target on Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, 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 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and a consensus price target of $91.36.

Insider Buying and Selling at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction 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 directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.