Telos Capital Management Inc. Makes New Investment in Veralto Co. (NYSE:VLTO)

Telos Capital Management Inc. bought a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, Holdings Channel reports. The fund bought 4,524 shares of the company’s stock, valued at approximately $372,000.

Several other institutional investors also recently made changes to their positions in the stock. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the 4th quarter worth $347,827,000. Vontobel Holding Ltd. purchased a new stake in shares of Veralto in the 4th quarter worth about $60,495,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Veralto in the 4th quarter worth about $59,869,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Veralto in the 4th quarter worth about $47,229,000. Finally, Mirova US LLC purchased a new stake in shares of Veralto in the 4th quarter worth about $32,474,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Trading Down 0.4 %

NYSE VLTO opened at $90.55 on Thursday. Veralto Co. has a one year low of $65.51 and a one year high of $92.15. The company’s 50 day moving average price is $87.42 and its 200 day moving average price is $79.66. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VLTO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday. Argus initiated 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. Finally, Citigroup boosted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $93.36.

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.