Lipe & Dalton Acquires New Position in Veralto Co. (NYSE:VLTO)

Lipe & Dalton acquired a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,442 shares of the company’s stock, valued at approximately $612,000.

Other large investors have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto in the fourth quarter worth $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto in the fourth quarter worth approximately $26,000. Dougherty Wealth Advisers LLC bought a new position in Veralto in the fourth quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new position in Veralto in the fourth quarter worth approximately $29,000. Finally, Gradient Investments LLC lifted its holdings in shares of Veralto by 2,678.6% during the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock valued at $32,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of recent research reports. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price for the company. Citigroup upped their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada increased their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Veralto Price Performance

Shares of NYSE:VLTO traded up $1.03 on Tuesday, hitting $90.89. The company had a trading volume of 2,057,831 shares, compared to its average volume of 1,512,052. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $91.37. The stock’s 50 day moving average is $86.97. 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 (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. Equities analysts expect that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

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.