Cambridge Trust Co. Takes Position in Veralto Co. (NYSE:VLTO)

Cambridge Trust Co. purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,376 shares of the company’s stock, valued at approximately $1,512,000.

Other hedge funds have also bought and sold shares of the company. Sugarloaf Wealth Management LLC bought a new position in Veralto in the 4th quarter worth approximately $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto during the fourth quarter worth $26,000. Dougherty Wealth Advisers LLC bought a new position in shares of Veralto in the fourth quarter worth $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto in the fourth quarter valued at $27,000. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Veralto during the 4th quarter valued at $29,000. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Argus began coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target 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 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price for the company. Finally, BMO Capital Markets assumed 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $88.80 on Friday. The company’s fifty day moving average is $87.54 and its 200 day moving average is $79.72. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $92.15.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating 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 last year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, March 27th.

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.