Eos Management L.P. Invests $577,000 in Veralto Co. (NYSE:VLTO)

Eos Management L.P. acquired a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,017 shares of the company’s stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Impax Asset Management Group plc acquired a new stake in Veralto during the 4th quarter worth approximately $347,827,000. abrdn plc purchased a new stake in shares of Veralto during the fourth quarter worth $80,959,000. Vontobel Holding Ltd. acquired a new stake in shares of Veralto in the fourth quarter valued at $60,495,000. DekaBank Deutsche Girozentrale purchased a new position in Veralto in the fourth quarter valued at $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Veralto during the 4th quarter worth $47,229,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.4 %

VLTO stock traded up $0.33 during trading on Friday, hitting $94.12. The company had a trading volume of 1,110,362 shares, compared to its average volume of 1,620,400. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $95.40. The firm has a 50-day moving average price of $88.53 and a 200-day moving average price of $80.36. 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 released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

VLTO has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft started 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. Royal Bank of Canada raised their price objective 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. 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 initiated coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Insider Transactions at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’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 owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company 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.