Global Retirement Partners LLC Grows Position in Veralto Co. (NYSE:VLTO)

Global Retirement Partners LLC lifted its position in Veralto Co. (NYSE:VLTOFree Report) by 63.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,843 shares of the company’s stock after purchasing an additional 1,494 shares during the quarter. Global Retirement Partners LLC’s holdings in Veralto were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VLTO. Neville Rodie & Shaw Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at about $1,732,000. Anchor Investment Management LLC purchased a new stake in shares of Veralto in the fourth quarter valued at about $117,000. Park National Corp OH purchased a new stake in shares of Veralto in the fourth quarter valued at about $1,243,000. M&R Capital Management Inc. purchased a new stake in shares of Veralto in the fourth quarter valued at about $70,000. Finally, Massmutual Trust Co. FSB ADV purchased a new stake in shares of Veralto in the fourth quarter valued at about $285,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on VLTO

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’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 value of $43,050.00. Following the sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Veralto Price Performance

Shares of VLTO opened at $86.59 on Wednesday. Veralto Co. has a 1 year low of $65.51 and a 1 year 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 stock’s 50-day simple moving average is $85.00.

Veralto (NYSE:VLTOGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. As a group, sell-side analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.42%.

Veralto Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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