First Trust Direct Indexing L.P. Takes Position in Veralto Co. (NYSE:VLTO)

First Trust Direct Indexing L.P. bought a new stake in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,631 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds also recently modified their holdings of the stock. Fishman Jay A Ltd. MI boosted its position in shares of Veralto by 6.0% during the fourth quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after buying an additional 238 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto during the fourth quarter valued at approximately $25,000. Blue Trust Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto during the fourth quarter valued at approximately $25,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.6 %

Shares of VLTO opened at $96.73 on Thursday. The stock’s fifty day moving average price is $89.97 and its two-hundred day moving average price is $81.67. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $97.39.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.09 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.37%.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction 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 sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. 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 report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.18.

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.