Everence Capital Management Inc. Invests $1.61 Million in Veralto Co. (NYSE:VLTO)

Everence Capital Management Inc. acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 19,564 shares of the company’s stock, valued at approximately $1,609,000.

A number of other large investors have also recently made changes to their positions in VLTO. Fishman Jay A Ltd. MI boosted its holdings in 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 purchasing an additional 238 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new stake in Veralto in the fourth quarter valued at $25,000. Blue Trust Inc. purchased a new stake in Veralto in the fourth quarter valued at $26,000. Dougherty Wealth Advisers LLC purchased a new stake in Veralto in the fourth quarter valued at $27,000. Finally, Pinnacle Bancorp Inc. purchased a new stake in Veralto in the fourth quarter valued at $29,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on VLTO. Argus began coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. 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 price target on the stock. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Finally, Stifel Nicolaus lowered their target price on shares of Veralto from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Veralto Stock Performance

VLTO opened at $90.89 on Wednesday. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $91.37. 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 company has a 50-day moving average price of $87.23 and a 200 day moving average price of $79.58.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

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 given a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Insider Buying and Selling

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 value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

About Veralto

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.