Geneva Capital Management LLC Buys 5,941 Shares of Veralto Co. (NYSE:VLTO)

Geneva Capital Management LLC grew its stake in shares of Veralto Co. (NYSE:VLTO) by 120.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,854 shares of the company’s stock after acquiring an additional 5,941 shares during the period. Geneva Capital Management LLC’s holdings in Veralto were worth $962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Orion Portfolio Solutions LLC bought a new position in Veralto in the 4th quarter worth approximately $3,202,000. Factory Mutual Insurance Co. bought a new position in Veralto in the 4th quarter worth approximately $9,260,000. Daiwa Securities Group Inc. boosted its holdings in Veralto by 78.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock worth $7,151,000 after buying an additional 35,433 shares during the period. State of Michigan Retirement System purchased a new stake in Veralto in the 4th quarter worth approximately $4,940,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Veralto in the 4th quarter worth approximately $79,075,000. 91.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on VLTO. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. TD Cowen began coverage on shares of Veralto in a research note on Monday, June 17th. They issued a “hold” rating and a $95.00 target price on the stock. Stifel Nicolaus increased their target price 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. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Robert W. Baird raised their price objective on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Veralto Stock Up 1.3 %

NYSE:VLTO traded up $1.29 during trading hours on Thursday, reaching $97.10. The company’s stock had a trading volume of 1,976,424 shares, compared to its average volume of 1,602,321. The firm has a 50-day simple moving average of $98.39 and a 200-day simple moving average of $89.48. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $102.58. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that Veralto Co. will post 3.37 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Friday, June 28th.

Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now directly 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 corporate insiders.

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.