Lipe & Dalton Acquires Shares of 7,442 Veralto Co. (NYSE:VLTO)

Lipe & Dalton acquired a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, Holdings Channel.com reports. The fund acquired 7,442 shares of the company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VLTO. Factory Mutual Insurance Co. bought a new stake in shares of Veralto in the 4th quarter valued at $9,260,000. State of Michigan Retirement System purchased a new stake in shares of Veralto in the fourth quarter valued at about $4,940,000. Asset Management One Co. Ltd. purchased a new stake in Veralto during the fourth quarter worth about $7,944,000. Vontobel Holding Ltd. purchased a new stake in Veralto during the fourth quarter worth about $60,495,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Veralto in the fourth quarter worth about $1,660,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of NYSE VLTO traded up $1.03 during trading on Tuesday, reaching $90.89. 2,057,831 shares of the company traded hands, compared to its average volume of 1,512,052. The firm’s 50 day moving average price is $86.97. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $91.37.

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

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VLTO shares. BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. The Goldman Sachs Group initiated coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Finally, Argus began coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.00.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto 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 completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

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.