Simplicity Solutions LLC Makes New $427,000 Investment in Veralto Co. (NYSE:VLTO)

Simplicity Solutions LLC purchased a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,187 shares of the company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Impax Asset Management Group plc purchased a new position in shares of Veralto in the 4th quarter worth about $347,827,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Veralto in the 4th quarter worth about $59,869,000. New York State Teachers Retirement System purchased a new position in shares of Veralto in the 4th quarter worth about $19,498,000. Defender Capital LLC. purchased a new position in shares of Veralto in the 4th quarter worth about $12,366,000. Finally, Chevy Chase Trust Holdings LLC purchased a new position in shares of Veralto in the 4th quarter worth about $11,531,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Finally, Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Stock Down 1.9 %

Shares of VLTO opened at $88.80 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The business’s 50-day moving average price is $87.54 and its 200-day moving average price is $79.72. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $92.15.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. On average, analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

Insider Buying and Selling

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 value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

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.