GAMMA Investing LLC Acquires Shares of 1,233 Veralto Co. (NYSE:VLTO)

GAMMA Investing LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,233 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors have also made changes to their positions in the business. Factory Mutual Insurance Co. bought a new position in Veralto during the fourth quarter worth $9,260,000. State of Michigan Retirement System bought a new stake in shares of Veralto during the 4th quarter worth about $4,940,000. Asset Management One Co. Ltd. acquired a new position in Veralto in the 4th quarter valued at about $7,944,000. Vontobel Holding Ltd. bought a new position in Veralto in the 4th quarter valued at about $60,495,000. Finally, OLD National Bancorp IN acquired a new stake in Veralto during the fourth quarter worth approximately $876,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

VLTO stock opened at $94.12 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a 50-day moving average price of $88.53 and a 200-day moving average price of $80.44. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $95.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue was up 1.7% compared to the same quarter last year. Research analysts expect that Veralto Co. will post 3.34 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective on the stock. Citigroup boosted their target price 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. Robert W. Baird raised their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted 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. Five 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.com, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of Veralto 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 owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

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.