Azzad Asset Management Inc. ADV Purchases 2,912 Shares of Veralto Co. (NYSE:VLTO)

Azzad Asset Management Inc. ADV boosted its position in shares of Veralto Co. (NYSE:VLTO) by 26.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,776 shares of the company’s stock after acquiring an additional 2,912 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Veralto were worth $1,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Veralto in the fourth quarter valued at $2,127,330,000. Capital International Investors purchased a new position in shares of Veralto in the fourth quarter valued at $538,324,000. Brown Advisory Inc. purchased a new position in shares of Veralto in the fourth quarter valued at $528,018,000. Impax Asset Management Group plc purchased a new position in shares of Veralto in the fourth quarter valued at $347,827,000. Finally, Norges Bank purchased a new position in shares of Veralto in the fourth quarter valued at $266,143,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. TD Cowen started coverage on shares of Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird lifted their price objective on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets lifted their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Veralto Stock Up 1.1 %

Shares of VLTO stock traded up $1.07 on Wednesday, hitting $95.42. The stock had a trading volume of 548,447 shares, compared to its average volume of 1,612,381. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The business has a 50 day moving average price of $98.18 and a 200 day moving average price of $88.94. Veralto Co. has a one year low of $65.51 and a one year high of $102.58.

Veralto (NYSE:VLTO) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.23 billion. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.38%.

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.