Traynor Capital Management Inc. Purchases Shares of 3,383 Veralto Co. (NYSE:VLTO)

Traynor Capital Management Inc. purchased a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,383 shares of the company’s stock, valued at approximately $278,000.

Several other large investors have also made changes to their positions in the business. Sugarloaf Wealth Management LLC acquired a new position in Veralto in the 4th quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in Veralto in the 4th quarter valued at $35,000. North Star Investment Management Corp. acquired a new position in Veralto in the 4th quarter valued at $51,000. Compagnie Lombard Odier SCmA acquired a new position in Veralto in the 4th quarter valued at $58,000. Finally, CVA Family Office LLC acquired a new position in Veralto in the 4th quarter valued at $58,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on 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 directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Veralto Stock Performance

Shares of NYSE VLTO traded down $1.08 during mid-day trading on Friday, reaching $88.66. 1,545,606 shares of the company’s stock were exchanged, compared to its average volume of 1,668,871. 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 $90.69. The stock’s 50-day moving average is $84.21.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates 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. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on VLTO. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective for the company. Stifel Nicolaus reduced their price objective on Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Wolfe Research started coverage on Veralto in a report on Wednesday, December 13th. They issued a “peer perform” rating for the company. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Veralto has an average rating of “Moderate Buy” and a consensus price target of $91.36.

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.