Savant Capital LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

Savant Capital LLC bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,411 shares of the company’s stock, valued at approximately $1,021,000.

Other hedge funds have also recently made changes to their positions in the company. Citizens Business Bank bought a new stake in Veralto during the 4th quarter valued at about $2,595,000. Mission Wealth Management LP purchased a new position in Veralto in the 4th quarter worth approximately $294,000. Penobscot Investment Management Company Inc. purchased a new position in Veralto in the 4th quarter worth approximately $1,039,000. Duff & Phelps Investment Management Co. boosted its stake in Veralto by 774.8% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 262,436 shares of the company’s stock valued at $21,588,000 after purchasing an additional 232,436 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Veralto in the 4th quarter worth $388,000. 91.28% of the stock is owned by institutional investors.

Veralto Trading Up 2.2 %

NYSE VLTO opened at $95.89 on Friday. The stock’s 50-day moving average price is $89.20 and its 200-day moving average price is $80.93. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $96.13.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Veralto Co. will post 3.34 EPS for the current year.

Veralto Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on VLTO. The Goldman Sachs Group began coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. BNP Paribas initiated coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Five equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Insider Activity

In related 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 owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Mattias Bystrom sold 500 shares of the company’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 completion of the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. Company 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.