International Assets Investment Management LLC Buys New Position in Veralto Co. (NYSE:VLTO)

International Assets Investment Management LLC bought a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 39,403 shares of the company’s stock, valued at approximately $3,241,000.

Several other institutional investors have also recently added to or reduced their stakes in VLTO. Riverbridge Partners LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $7,633,000. Liberty Capital Management Inc. acquired a new position in shares of Veralto during the fourth quarter valued at about $284,000. Boston Trust Walden Corp bought a new position in shares of Veralto during the 4th quarter worth about $1,225,000. Avitas Wealth Management LLC acquired a new stake in shares of Veralto in the 4th quarter valued at about $577,000. Finally, Fishman Jay A Ltd. MI increased its position in Veralto by 6.0% in the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after buying an additional 238 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Argus initiated coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Price Performance

Shares of Veralto stock opened at $90.55 on Thursday. The business’s fifty day simple moving average is $87.42 and its 200 day simple moving average is $79.66. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $92.15.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations 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 business earned $0.80 earnings per share. Research analysts expect that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred 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 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 the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.