Stack Financial Management Inc Makes New $2.09 Million Investment in Veralto Co. (NYSE:VLTO)

Stack Financial Management Inc bought a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,453 shares of the company’s stock, valued at approximately $2,094,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Veralto in the 4th quarter valued at approximately $431,000. Fractal Investments LLC bought a new stake in shares of Veralto during the fourth quarter worth $411,000. Atria Wealth Solutions Inc. bought a new stake in Veralto in the fourth quarter valued at about $210,000. Capital Advisors Ltd. LLC acquired a new position in Veralto in the fourth quarter valued at about $45,000. Finally, Cognios Beta Neutral Large Cap Fund LP acquired a new position in shares of Veralto during the fourth quarter worth about $442,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $0.24 during trading on Friday, hitting $94.03. 364,405 shares of the company were exchanged, compared to its average volume of 1,610,039. 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 Co. has a 52-week low of $65.51 and a 52-week high of $95.40. The stock has a 50 day moving average of $88.37 and a 200 day moving average of $80.23.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insiders Place Their Bets

In other 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 value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. BNP Paribas began coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. BMO Capital Markets increased their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

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.