Simplicity Solutions LLC Makes New $427,000 Investment in Veralto Co. (NYSE:VLTO)

Simplicity Solutions LLC acquired a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,187 shares of the company’s stock, valued at approximately $427,000.

A number of other large investors have also added to or reduced their stakes in the company. Factory Mutual Insurance Co. bought a new position in shares of Veralto during the 4th quarter valued at approximately $9,260,000. State of Michigan Retirement System bought a new position in shares of Veralto during the 4th quarter valued at approximately $4,940,000. Asset Management One Co. Ltd. purchased a new position in Veralto during the 4th quarter valued at $7,944,000. LS Investment Advisors LLC purchased a new position in Veralto during the 4th quarter valued at $1,660,000. Finally, City Holding Co. purchased a new position in Veralto during the 4th quarter valued at $1,229,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO opened at $88.80 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $92.15. The stock has a fifty day moving average price of $87.54 and a 200-day moving average price of $79.72.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities research analysts expect that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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 given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Transactions at Veralto

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLTO. The Goldman Sachs Group began coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective for the company. Argus began coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective for the company. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and a consensus target price of $93.36.

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.