Everett Harris & Co. CA Buys New Shares in Veralto Co. (NYSE:VLTO)

Everett Harris & Co. CA bought a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,027 shares of the company’s stock, valued at approximately $249,000.

Other institutional investors also recently modified their holdings of the company. Neville Rodie & Shaw Inc. bought a new stake in Veralto during the 4th quarter valued at $1,732,000. Anchor Investment Management LLC bought a new stake in shares of Veralto in the 4th quarter worth $117,000. Park National Corp OH bought a new stake in shares of Veralto in the 4th quarter worth $1,243,000. M&R Capital Management Inc. bought a new stake in shares of Veralto in the 4th quarter worth $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Veralto in the 4th quarter worth $285,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other Veralto news, 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 value of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. BMO Capital Markets assumed coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Finally, The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.36.

Veralto Price Performance

NYSE:VLTO traded down $1.08 during mid-day trading on Thursday, reaching $88.66. The company’s stock had a trading volume of 1,545,606 shares, compared to its average volume of 1,494,608. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $90.69. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The firm’s fifty day simple moving average is $84.21.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.41%.

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.