3,520 Shares in Veralto Co. (NYSE:VLTO) Bought by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV bought a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, Holdings Channel.com reports. The firm bought 3,520 shares of the company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Veralto during the 4th quarter valued at about $882,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Veralto during the 4th quarter valued at about $10,952,000. Meritage Portfolio Management purchased a new position in shares of Veralto during the 4th quarter valued at about $1,866,000. Bank of New Hampshire purchased a new position in shares of Veralto during the 4th quarter valued at about $144,000. Finally, Stack Financial Management Inc purchased a new position in shares of Veralto in the 4th quarter valued at about $2,094,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VLTO. 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 for the company. Argus began coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Robert W. Baird boosted their target price on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO traded up $1.39 during mid-day trading on Thursday, hitting $93.79. 1,785,282 shares of the company’s stock were exchanged, compared to its average volume of 1,625,037. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40. The business’s 50 day moving average is $88.37 and its two-hundred day moving average is $80.23. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last announced 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The business 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 $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%.

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.