West Paces Advisors Inc. Invests $45,000 in Veralto Co. (NYSE:VLTO)

West Paces Advisors Inc. acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, Holdings Channel reports. The fund acquired 548 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors have also modified their holdings of the stock. Factory Mutual Insurance Co. purchased a new stake in Veralto in the 4th quarter valued at $9,260,000. State of Michigan Retirement System purchased a new stake in Veralto in the 4th quarter valued at $4,940,000. Asset Management One Co. Ltd. purchased a new stake in Veralto in the 4th quarter valued at $7,944,000. Vontobel Holding Ltd. purchased a new stake in Veralto in the 4th quarter valued at $60,495,000. Finally, LS Investment Advisors LLC purchased a new stake in Veralto in the 4th quarter valued at $1,660,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the subject of several research reports. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. 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 price target for the company. BMO Capital Markets initiated coverage on shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Insider Transactions at Veralto

In other 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 transaction, 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 accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Up 1.1 %

NYSE:VLTO opened at $90.89 on Wednesday. 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. The firm’s fifty day simple moving average is $87.23 and its 200-day simple moving average is $79.58.

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 analyst estimates of $1.25 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%.

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.