Welch & Forbes LLC Takes $10.55 Million Position in Veralto Co. (NYSE:VLTO)

Welch & Forbes LLC bought a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 128,298 shares of the company’s stock, valued at approximately $10,554,000.

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

Analyst Ratings Changes

VLTO has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their target price on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Argus assumed coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Robert W. Baird raised their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Veralto Stock Up 0.3 %

VLTO traded up $0.28 during midday trading on Tuesday, hitting $97.27. The company’s stock had a trading volume of 1,235,403 shares, compared to its average volume of 1,586,138. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $97.39. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $89.79 and a two-hundred day moving average price of $81.57.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts expect that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mattias Bystrom sold 500 shares of the 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 $2,609,691. The disclosure for this sale can be found here. Corporate 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.