3,570 Shares in Veralto Co. (NYSE:VLTO) Purchased by Mission Wealth Management LP

Mission Wealth Management LP bought a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,570 shares of the company’s stock, valued at approximately $294,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Penobscot Investment Management Company Inc. acquired a new stake in Veralto during the 4th quarter valued at $1,039,000. Duff & Phelps Investment Management Co. increased its stake in shares of Veralto by 774.8% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 262,436 shares of the company’s stock valued at $21,588,000 after buying an additional 232,436 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Veralto in the fourth quarter valued at about $388,000. Van ECK Associates Corp acquired a new position in Veralto during the 4th quarter worth about $6,550,000. Finally, Palmer Knight Co bought a new stake in Veralto during the 4th quarter worth about $545,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Up 2.2 %

Shares of VLTO stock opened at $95.89 on Friday. The stock has a 50-day moving average of $89.20 and a 200-day moving average of $80.93. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto Co. has a one year low of $65.51 and a one year high of $96.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share 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 the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid 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 yield of 0.38%.

Analysts Set New Price Targets

VLTO has been the topic of a number of research reports. Argus assumed 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. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. Finally, Citigroup lifted their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Insiders Place Their Bets

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

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.