Bryn Mawr Capital Management LLC Takes $1.99 Million Position in Veralto Co. (NYSE:VLTO)

Bryn Mawr Capital Management LLC purchased a new position in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,199 shares of the company’s stock, valued at approximately $1,991,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tandem Capital Management Corp ADV acquired a new stake in Veralto in the 4th quarter worth $290,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Veralto during the 4th quarter valued at about $882,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Veralto during the 4th quarter valued at about $10,952,000. Meritage Portfolio Management acquired a new stake in shares of Veralto during the 4th quarter valued at about $1,866,000. Finally, Bank of New Hampshire acquired a new stake in shares of Veralto during the 4th quarter valued at about $144,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VLTO shares. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Robert W. Baird boosted their target price on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday. 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 for the company. Citigroup boosted 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, Argus started coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the 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 sale, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Veralto Trading Up 0.4 %

NYSE VLTO traded up $0.33 on Friday, hitting $94.12. 1,110,362 shares of the stock were exchanged, compared to its average volume of 1,620,400. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The business’s fifty day moving average is $88.53 and its 200 day moving average is $80.36. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $95.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

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.