First Pacific Financial Takes $85,000 Position in Veralto Co. (NYSE:VLTO)

First Pacific Financial acquired a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,029 shares of the company’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Walter Public Investments Inc. acquired a new position in Veralto in the fourth quarter valued at about $7,157,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Veralto in the fourth quarter valued at about $6,092,000. Arthur M. Cohen & Associates LLC bought a new stake in shares of Veralto during the fourth quarter worth approximately $5,374,000. Nordea Investment Management AB bought a new stake in Veralto in the 4th quarter valued at $5,075,000. Finally, DNB Asset Management AS acquired a new position in shares of Veralto in the fourth quarter valued at about $4,711,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

Veralto stock opened at $89.75 on Thursday. The stock has a 50 day moving average of $84.21. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $90.69. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned $0.80 EPS. Veralto’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The firm 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VLTO. BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Argus initiated coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price for the company. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. Finally, Wolfe Research initiated coverage on Veralto in a research report on Wednesday, December 13th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction 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 accessible through this hyperlink.

Veralto 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.