Cambridge Trust Co. Invests $1.51 Million in Veralto Co. (NYSE:VLTO)

Cambridge Trust Co. purchased a new stake in shares of Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,376 shares of the company's stock, valued at approximately $1,512,000.

Several other institutional investors have also recently made changes to their positions in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto during the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new position in Veralto during the fourth quarter valued at approximately $26,000. Dougherty Wealth Advisers LLC bought a new position in shares of Veralto in the fourth quarter worth approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Veralto in the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Veralto during the 4th quarter valued at $29,000. Institutional investors own 91.28% of the company's stock.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction 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 approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company's stock.

Veralto Price Performance

Veralto stock traded up $0.09 during mid-day trading on Friday, reaching $88.89. 5,196,762 shares of the company's stock traded hands, compared to its average volume of 1,582,365. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $92.15. The stock has a 50 day moving average of $87.54 and a two-hundred day moving average of $79.72. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business posted $0.80 EPS. The firm's revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Veralto Co. will post 3.26 EPS for the current 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 paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target for the company. Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a report on Thursday, February 8th. Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a "hold" rating and a $79.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.36.

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.