Tandem Capital Management Corp ADV Takes Position in Veralto Co. (NYSE:VLTO)

Tandem Capital Management Corp ADV purchased a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,520 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Factory Mutual Insurance Co. bought a new stake in Veralto during the 4th quarter worth approximately $9,260,000. State of Michigan Retirement System bought a new stake in Veralto during the 4th quarter worth approximately $4,940,000. Asset Management One Co. Ltd. bought a new stake in Veralto during the 4th quarter worth approximately $7,944,000. Vontobel Holding Ltd. acquired a new position in Veralto during the 4th quarter worth approximately $60,495,000. Finally, LS Investment Advisors LLC acquired a new position in Veralto during the 4th quarter worth approximately $1,660,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VLTO. Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective for the company. Argus began coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. BMO Capital Markets increased their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five equities 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 presently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Veralto Price Performance

NYSE:VLTO traded up $1.39 during trading hours on Thursday, hitting $93.79. The company’s stock had a trading volume of 1,785,282 shares, compared to its average volume of 1,625,037. The stock has a fifty day simple moving average of $88.37 and a 200-day simple moving average of $80.23. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.40.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion during 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. As a group, equities analysts anticipate that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

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

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred 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 transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.