Xponance Inc. Buys New Position in Veralto Co. (NYSE:VLTO)

Xponance Inc. acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,244 shares of the company's stock, valued at approximately $2,570,000.

Several other large investors have also modified their holdings of the company. Fishman Jay A Ltd. MI boosted its holdings in shares of Veralto by 6.0% in the fourth quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company's stock valued at $343,000 after acquiring an additional 238 shares during the period. Sugarloaf Wealth Management LLC purchased a new stake in shares of Veralto during the fourth quarter worth approximately $25,000. Blue Trust Inc. purchased a new stake in shares of Veralto during the fourth quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Veralto during the fourth quarter worth approximately $27,000. Finally, Dougherty Wealth Advisers LLC purchased a new stake in shares of Veralto during the fourth quarter worth approximately $27,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on VLTO. Royal Bank of Canada upped their price target on Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 8th. Citigroup upped their price target on Veralto from $89.00 to $94.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Argus initiated coverage on Veralto in a research note on Tuesday, January 9th. They set a "buy" rating and a $90.00 price target for the company. The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They issued a "buy" rating and a $104.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research report on Wednesday, January 10th. They issued a "hold" rating and a $79.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $93.36.

Veralto Price Performance

Veralto stock traded up $2.52 during trading hours on Tuesday, hitting $93.75. The stock had a trading volume of 2,554,659 shares, compared to its average volume of 1,598,865. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $93.85. The stock's fifty day moving average is $88.06 and its two-hundred day moving average is $80.05.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS 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 analyst estimates of $1.25 billion. The firm's revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. As a group, analysts anticipate that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Insiders Place Their Bets

In other Veralto 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 approximately $2,609,691. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Veralto Company 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.