Wolverine Asset Management LLC Purchases Shares of 418 Veralto Co. (NYSE:VLTO)

Wolverine Asset Management LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 418 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neville Rodie & Shaw Inc. bought a new position in Veralto during the 4th quarter valued at about $1,732,000. Anchor Investment Management LLC bought a new position in shares of Veralto in the fourth quarter valued at approximately $117,000. Park National Corp OH bought a new position in shares of Veralto in the fourth quarter valued at approximately $1,243,000. M&R Capital Management Inc. bought a new stake in Veralto during the 4th quarter worth approximately $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Veralto during the 4th quarter worth approximately $285,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VLTO. Royal Bank of Canada boosted their price objective on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. BMO Capital Markets increased their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Stock Up 0.4 %

Shares of NYSE:VLTO opened at $94.12 on Monday. The firm’s 50 day simple moving average is $88.53 and its 200 day simple moving average is $80.44. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during 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. On average, equities research analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current fiscal 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 paid a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%.

Insider Buying and Selling at Veralto

In other 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 transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

About Veralto

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.