Brookstone Capital Management Sells 696 Shares of Veralto Co. (NYSE:VLTO)

Brookstone Capital Management lowered its stake in Veralto Co. (NYSE:VLTO) by 21.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,610 shares of the company’s stock after selling 696 shares during the period. Brookstone Capital Management’s holdings in Veralto were worth $215,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. City Holding Co. bought a new position in Veralto in the fourth quarter valued at about $1,229,000. Renaissance Investment Group LLC bought a new position in Veralto in the fourth quarter valued at about $1,385,000. Czech National Bank bought a new position in Veralto in the fourth quarter valued at about $3,158,000. Nordea Investment Management AB bought a new position in Veralto in the fourth quarter valued at about $5,075,000. Finally, Raymond James Trust N.A. bought a new position in Veralto in the fourth quarter valued at about $467,000. Institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus decreased their target price on Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Argus assumed coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Royal Bank of Canada lifted their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. The Goldman Sachs Group began 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.36.

Veralto Price Performance

Shares of VLTO opened at $89.75 on Thursday. The business’s 50-day moving average is $84.21. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $90.69.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The company 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% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. Sell-side analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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 issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.40%.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was 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 approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.