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

Patton Albertson Miller Group LLC bought a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,878 shares of the company’s stock, valued at approximately $648,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto during the 4th quarter worth $25,000. First Command Advisory Services Inc. acquired a new stake in shares of Veralto in the fourth quarter valued at about $25,000. Blue Trust Inc. bought a new position in shares of Veralto in the fourth quarter worth about $26,000. Dougherty Wealth Advisers LLC acquired a new position in shares of Veralto during the 4th quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Veralto during the 4th quarter valued at approximately $27,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

VLTO traded down $0.79 during trading on Thursday, reaching $95.94. 1,831,620 shares of the company’s stock were exchanged, compared to its average volume of 1,583,105. The company’s fifty day moving average price is $90.16 and its 200-day moving average price is $81.77. 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 Co. has a fifty-two week low of $65.51 and a fifty-two week high of $97.46.

Veralto (NYSE:VLTO) last announced 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date was Wednesday, March 27th.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 8,041 shares of the 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 completion of 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 document filed with the SEC, which is available through the SEC website. In other news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was 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 $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mattias Bystrom sold 500 shares of Veralto 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 completion of the sale, the insider now directly owns 30,310 shares in the company, 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VLTO shares. The Goldman Sachs Group began coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. BNP Paribas started coverage on shares of Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

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.