Sequoia Financial Advisors LLC Invests $386,000 in Veralto Co. (NYSE:VLTO)

Sequoia Financial Advisors LLC acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,690 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Veralto during the 4th quarter worth approximately $59,869,000. New York State Teachers Retirement System purchased a new stake in Veralto in the 4th quarter valued at $19,498,000. Defender Capital LLC. purchased a new stake in Veralto in the 4th quarter valued at $12,366,000. Chevy Chase Trust Holdings LLC purchased a new stake in Veralto in the 4th quarter valued at $11,531,000. Finally, Factory Mutual Insurance Co. purchased a new stake in Veralto in the 4th quarter valued at $9,260,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.4 %

NYSE:VLTO opened at $90.55 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $92.15. The firm’s fifty day simple moving average is $87.42 and its 200-day simple moving average is $79.66.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The business 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 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 company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VLTO shares. Deutsche Bank Aktiengesellschaft started 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. 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. The Goldman Sachs Group started coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Citigroup upped 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. Finally, BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

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.