NewEdge Wealth LLC Purchases New Holdings in Veralto Co. (NYSE:VLTO)

NewEdge Wealth LLC acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 6,978 shares of the company’s stock, valued at approximately $574,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the fourth quarter worth approximately $347,827,000. DekaBank Deutsche Girozentrale acquired a new position in Veralto in the 4th quarter valued at $59,869,000. New York State Teachers Retirement System purchased a new position in Veralto during the 4th quarter worth $19,498,000. Defender Capital LLC. purchased a new position in Veralto during the 4th quarter worth $12,366,000. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in shares of Veralto in the 4th quarter worth $11,531,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. The Goldman Sachs Group initiated coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. BMO Capital Markets began coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target on the stock. Argus began coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Veralto Stock Performance

Shares of VLTO stock 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 fifty-two week low of $65.51 and a fifty-two week high of $91.37. The business has a fifty day simple moving average of $87.23 and a 200-day simple moving average of $79.58.

Veralto (NYSE:VLTO) last issued 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. Veralto’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The firm 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 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 Buying and Selling

In other Veralto 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 transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

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.