Truist Financial Corp Makes New $11.58 Million Investment in Veralto Co. (NYSE:VLTO)

Truist Financial Corp purchased a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 140,725 shares of the company’s stock, valued at approximately $11,576,000.

A number of other hedge funds have also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC bought a new stake in Veralto during the fourth quarter valued at $25,000. First Command Advisory Services Inc. bought a new position in Veralto in the 4th quarter worth about $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto in the 4th quarter valued at about $26,000. Dougherty Wealth Advisers LLC bought a new stake in shares of Veralto during the 4th quarter valued at about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto during the fourth quarter worth about $27,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Argus assumed coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. BMO Capital Markets raised their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Citigroup lifted their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Trading Up 0.7 %

Shares of VLTO opened at $94.38 on Thursday. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.56. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a fifty day simple moving average of $89.04 and a two-hundred day simple moving average of $80.84.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s 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 approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The stock was 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.