13,200 Shares in Veralto Co. (NYSE:VLTO) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,200 shares of the company’s stock, valued at approximately $1,086,000.

Other hedge funds have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC acquired a new stake in Veralto during the 4th quarter worth $25,000. Blue Trust Inc. acquired a new stake in Veralto during the 4th quarter worth $26,000. Dougherty Wealth Advisers LLC acquired a new stake in Veralto during the 4th quarter worth $27,000. Pinnacle Bancorp Inc. acquired a new stake in Veralto during the 4th quarter worth $29,000. Finally, Gradient Investments LLC raised its stake in Veralto by 2,678.6% during the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock worth $32,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Veralto Trading Up 2.8 %

Shares of NYSE VLTO opened at $93.75 on Wednesday. The business has a 50-day moving average of $88.06 and a 200-day moving average of $80.05. 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 $93.85.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating 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. Veralto’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts anticipate that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analyst Weigh In

Several research firms have issued reports on VLTO. Citigroup lifted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target on the stock. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. BNP Paribas began coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.