Cerity Partners LLC Makes New $4.61 Million Investment in Veralto Co. (NYSE:VLTO)

Cerity Partners LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,040 shares of the company’s stock, valued at approximately $4,610,000.

A number of other hedge funds also recently bought and sold shares of the stock. Factory Mutual Insurance Co. acquired a new position in shares of Veralto during the fourth quarter worth $9,260,000. State of Michigan Retirement System acquired a new position in shares of Veralto during the fourth quarter worth $4,940,000. Asset Management One Co. Ltd. acquired a new position in shares of Veralto during the fourth quarter worth $7,944,000. LS Investment Advisors LLC acquired a new position in shares of Veralto during the fourth quarter worth $1,660,000. Finally, City Holding Co. acquired a new position in shares of Veralto during the fourth quarter worth $1,229,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of VLTO opened at $90.88 on Wednesday. The business’s 50-day moving average is $87.23 and its two-hundred day moving average is $79.58. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $91.37.

Veralto (NYSE:VLTO) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.25 billion. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. On average, sell-side analysts forecast that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target on the stock. Argus started coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. Stifel Nicolaus cut 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. Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

About Veralto

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.