1,600 Shares in Veralto Co. (NYSE:VLTO) Acquired by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,600 shares of the company’s stock, valued at approximately $163,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Veralto in the fourth quarter worth about $25,000. OFI Invest Asset Management bought a new stake in shares of Veralto in the 4th quarter valued at about $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto in the 4th quarter worth approximately $29,000. Albion Financial Group UT lifted its position in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in shares of Veralto during the fourth quarter valued at approximately $42,000. 91.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup lowered their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Royal Bank of Canada upped their price objective on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on Veralto in a research note on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Robert W. Baird lifted their price objective on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $110.09.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the sale, the senior vice president now directly owns 10,011 shares of the company’s stock, valued at approximately $971,567.55. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,073 shares of company stock worth $6,442,018. 0.36% of the stock is owned by company insiders.

Veralto Stock Up 0.7%

NYSE:VLTO opened at $101.67 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a market cap of $25.20 billion, a PE ratio of 30.44, a P/E/G ratio of 4.24 and a beta of 0.99. The company’s 50 day moving average is $94.40 and its two-hundred day moving average is $99.64.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto’s dividend payout ratio is currently 12.57%.

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.