Citizens Business Bank Takes $2.60 Million Position in Veralto Co. (NYSE:VLTO)

Citizens Business Bank 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 31,545 shares of the company's stock, valued at approximately $2,595,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Factory Mutual Insurance Co. purchased a new position in Veralto during the fourth quarter worth about $9,260,000. State of Michigan Retirement System purchased a new position in Veralto in the 4th quarter valued at approximately $4,940,000. Asset Management One Co. Ltd. acquired a new position in Veralto during the fourth quarter worth $7,944,000. Vontobel Holding Ltd. purchased a new stake in Veralto during the fourth quarter worth $60,495,000. Finally, OLD National Bancorp IN acquired a new stake in Veralto in the fourth quarter valued at $876,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 8,041 shares of the firm's 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 sale, the senior vice president now owns 20,761 shares of the company's stock, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mattias Bystrom sold 500 shares of the company's stock in a transaction that occurred on 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 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 owned by corporate insiders.

Veralto Trading Down 1.3 %

Shares of Veralto stock traded down $1.25 during trading hours on Tuesday, reaching $93.64. 1,287,858 shares of the company's stock were exchanged, compared to its average volume of 1,619,389. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The company has a 50 day moving average of $88.71 and a two-hundred day moving average of $80.59. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.56.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts expect that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They set a "buy" rating and a $90.00 price objective for the company. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They set an "outperform" rating and a $103.00 price objective for the company. BMO Capital Markets upped their target price on shares of Veralto from $97.00 to $101.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $95.18.

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.

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