Cerity Partners LLC Purchases Shares of 56,040 Veralto Co. (NYSE:VLTO)

Cerity Partners LLC purchased a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 56,040 shares of the company’s stock, valued at approximately $4,610,000.

Several other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the 4th quarter worth $347,827,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Veralto during the 4th quarter worth $59,869,000. New York State Teachers Retirement System purchased a new stake in shares of Veralto during the 4th quarter worth $19,498,000. Defender Capital LLC. purchased a new stake in shares of Veralto during the 4th quarter worth $12,366,000. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in shares of Veralto during the 4th quarter worth $11,531,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Price Performance

NYSE VLTO opened at $90.88 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto Co. has a one year low of $65.51 and a one year high of $91.37. The firm’s fifty day moving average is $87.23 and its two-hundred day moving average is $79.58.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts forecast that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. 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%.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Argus started coverage on shares of Veralto in a research 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 shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target for the company. Finally, Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.