Great Lakes Retirement Inc. Invests $413,000 in Veralto Co. (NYSE:VLTO)

Great Lakes Retirement Inc. bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, Holdings Channel reports. The fund bought 5,024 shares of the company’s stock, valued at approximately $413,000.

Other hedge funds also recently added to or reduced their stakes in the company. LS Investment Advisors LLC acquired a new position in shares of Veralto in the 4th quarter valued at about $1,660,000. City Holding Co. purchased a new position in Veralto during the fourth quarter valued at approximately $1,229,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Veralto in the fourth quarter valued at approximately $2,738,000. Renaissance Investment Group LLC purchased a new stake in Veralto in the 4th quarter worth approximately $1,385,000. Finally, Czech National Bank acquired a new stake in shares of Veralto during the 4th quarter worth approximately $3,158,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on VLTO shares. Stifel Nicolaus lowered their price target on shares of Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Argus assumed coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target for the company. The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target on the stock. Finally, Wolfe Research assumed coverage on Veralto in a report on Wednesday, December 13th. They issued a “peer perform” rating on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.36.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred 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 sale, the insider now 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 can be accessed through the SEC website.

Veralto Trading Down 0.9 %

Shares of NYSE VLTO traded down $0.82 on Thursday, reaching $88.92. 867,570 shares of the company traded hands, compared to its average volume of 1,480,591. The firm’s 50 day moving average is $84.21. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $90.69.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share 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. During the same period in the prior year, the business earned $0.80 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

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.