SVB Wealth LLC Makes New $948,000 Investment in Veralto Co. (NYSE:VLTO)

SVB Wealth LLC acquired a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 11,530 shares of the company’s stock, valued at approximately $948,000.

Other large investors have also recently made changes to their positions in the company. Factory Mutual Insurance Co. purchased a new position in shares of Veralto during the 4th quarter worth about $9,260,000. State of Michigan Retirement System purchased a new position in shares of Veralto during the 4th quarter worth about $4,940,000. Asset Management One Co. Ltd. purchased a new position in shares of Veralto during the 4th quarter worth about $7,944,000. Vontobel Holding Ltd. purchased a new position in shares of Veralto during the 4th quarter worth about $60,495,000. Finally, LS Investment Advisors LLC bought a new stake in Veralto during the 4th quarter valued at about $1,660,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 0.1 %

NYSE:VLTO opened at $88.89 on Friday. Veralto Co. has a one year low of $65.51 and a one year high of $92.15. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The firm has a 50-day simple moving average of $87.68 and a 200-day simple moving average of $79.78.

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

Veralto Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Insider Transactions at Veralto

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on VLTO. BMO Capital Markets began coverage on shares of Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. BNP Paribas began coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Finally, 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 objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.