Avalon Trust Co Makes New $10.86 Million Investment in Veralto Co. (NYSE:VLTO)

Avalon Trust Co purchased a new stake in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 131,978 shares of the company’s stock, valued at approximately $10,857,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new stake in Veralto during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. purchased a new stake in shares of Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. bought a new stake in shares of Veralto during the 4th quarter valued at about $26,000. Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto during the fourth quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Veralto in the fourth quarter worth approximately $27,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Robert W. Baird raised their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. The Goldman Sachs Group started coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. 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 on the stock. Finally, Citigroup boosted 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Stock Up 2.2 %

VLTO traded up $2.04 during trading on Friday, hitting $95.89. 940,032 shares of the stock traded hands, compared to its average volume of 1,920,957. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $96.13. 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 firm has a 50-day moving average of $89.20 and a 200 day moving average of $80.93.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

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.