Sequoia Financial Advisors LLC Buys New Stake in Veralto Co. (NYSE:VLTO)

Sequoia Financial Advisors LLC bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,690 shares of the company’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VLTO. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto in the fourth quarter worth $25,000. Blue Trust Inc. purchased a new position in shares of Veralto in the fourth quarter worth $26,000. Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto in the fourth quarter worth $27,000. Pinnacle Bancorp Inc. purchased a new position in shares of Veralto in the fourth quarter worth $29,000. Finally, Gradient Investments LLC raised its holdings in shares of Veralto by 2,678.6% in the fourth quarter. Gradient Investments LLC now owns 389 shares of the company’s stock worth $32,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Down 0.4 %

VLTO stock opened at $90.55 on Thursday. 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 firm’s fifty day moving average is $87.42 and its 200 day moving average is $79.66. Veralto Co. has a one year low of $65.51 and a one year high of $92.15.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts forecast that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Analyst Ratings Changes

A number of research firms have issued reports on VLTO. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Argus initiated coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. Citigroup increased their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.36.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction 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 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 accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.