IMA Wealth Inc. Purchases Shares of 7,627 Veralto Co. (NYSE:VLTO)

IMA Wealth Inc. purchased a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,627 shares of the company’s stock, valued at approximately $627,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new stake in Veralto in the 4th quarter valued at about $25,000. First Command Advisory Services Inc. acquired a new stake in Veralto during the 4th quarter worth about $25,000. Blue Trust Inc. acquired a new stake in Veralto during the 4th quarter worth about $26,000. Dougherty Wealth Advisers LLC acquired a new stake in Veralto during the 4th quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Veralto during the 4th quarter worth about $27,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Up 0.4 %

NYSE:VLTO traded up $0.33 during mid-day trading on Friday, reaching $94.12. The stock had a trading volume of 1,151,386 shares, compared to its average volume of 1,946,553. The business’s 50 day moving average is $88.53 and its 200 day moving average is $80.36. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Veralto Co. will post 3.3 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the company’s 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 completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several recent analyst reports. Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. 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 report on Thursday, February 8th. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. BMO Capital Markets boosted their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.