Patton Albertson Miller Group LLC Takes $648,000 Position in Veralto Co. (NYSE:VLTO)

Patton Albertson Miller Group LLC acquired a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,878 shares of the company’s stock, valued at approximately $648,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Impax Asset Management Group plc purchased a new stake in shares of Veralto in the fourth quarter worth about $347,827,000. Fisher Asset Management LLC bought a new position in Veralto in the 4th quarter valued at $93,845,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Veralto during the 4th quarter valued at $91,464,000. abrdn plc bought a new position in shares of Veralto in the fourth quarter worth $80,959,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Veralto in the fourth quarter worth $60,495,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Down 0.8 %

Shares of VLTO stock traded down $0.79 on Thursday, hitting $95.94. 1,831,620 shares of the company’s stock traded hands, compared to its average volume of 1,583,105. The company’s fifty day simple moving average is $90.16 and its 200 day simple moving average is $81.77. Veralto Co. has a one year low of $65.51 and a one year high of $97.46. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared 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 of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent analyst reports. BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Stifel Nicolaus lifted their target price on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Finally, Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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 firm’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 of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Melissa Aquino sold 8,041 shares of the business’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 transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Veralto Company Profile

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.