TCI Wealth Advisors Inc. Makes New Investment in Veralto Co. (NYSE:VLTO)

TCI Wealth Advisors Inc. bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,584 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc acquired a new stake in shares of Veralto during the 4th quarter valued at approximately $347,827,000. Fisher Asset Management LLC acquired a new stake in shares of Veralto during the 4th quarter valued at approximately $93,845,000. abrdn plc acquired a new stake in shares of Veralto during the 4th quarter valued at approximately $80,959,000. Vontobel Holding Ltd. acquired a new stake in shares of Veralto during the 4th quarter valued at approximately $60,495,000. Finally, Swiss National Bank acquired a new stake in shares of Veralto during the 4th quarter valued at approximately $60,187,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VLTO shares. Robert W. Baird increased their target price on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Royal Bank of Canada raised their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Argus started coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Finally, BMO Capital Markets raised their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $95.18.

Veralto Trading Up 1.2 %

VLTO traded up $1.19 during midday trading on Monday, reaching $97.08. The company’s stock had a trading volume of 341,298 shares, compared to its average volume of 1,586,111. The company has a fifty day simple moving average of $89.39 and a 200 day simple moving average of $81.18. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $97.24.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue was up 1.7% on a year-over-year basis. As a group, analysts expect that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%.

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.