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

Stack Financial Management Inc purchased a new stake in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,453 shares of the company’s stock, valued at approximately $2,094,000.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc purchased a new position in Veralto during the fourth quarter valued at $347,827,000. abrdn plc purchased a new position in shares of Veralto in the fourth quarter worth $80,959,000. Vontobel Holding Ltd. purchased a new position in shares of Veralto in the fourth quarter worth $60,495,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Veralto in the fourth quarter worth $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Veralto in the fourth quarter worth $47,229,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VLTO shares. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. BNP Paribas initiated coverage on Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective for the company. Stifel Nicolaus lifted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Activity

In related 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 sale, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Veralto Price Performance

VLTO stock traded up $0.24 during midday trading on Friday, reaching $94.03. The company had a trading volume of 364,405 shares, compared to its average volume of 1,610,039. 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 stock has a 50 day moving average price of $88.37 and a 200 day moving average price of $80.23. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

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.