Clearstead Trust LLC Takes $75,000 Position in Veralto Co. (NYSE:VLTO)

Clearstead Trust LLC acquired a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 915 shares of the company’s stock, valued at approximately $75,000.

Several other large investors have also bought and sold shares of the company. Neville Rodie & Shaw Inc. acquired a new stake in Veralto during the 4th quarter valued at $1,732,000. Anchor Investment Management LLC purchased a new stake in Veralto in the 4th quarter worth about $117,000. Park National Corp OH acquired a new stake in Veralto during the 4th quarter worth about $1,243,000. M&R Capital Management Inc. purchased a new position in Veralto during the 4th quarter valued at about $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Veralto in the 4th quarter valued at about $285,000. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on VLTO. 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 target price for the company. Robert W. Baird boosted their target price on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note 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. BMO Capital Markets boosted their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Stock Performance

Veralto stock traded up $2.04 on Friday, hitting $95.89. The company’s stock had a trading volume of 940,032 shares, compared to its average volume of 1,920,957. Veralto Co. has a one year low of $65.51 and a one year 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 company has a fifty day moving average price of $89.39 and a 200-day moving average price of $81.18.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insider Activity

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto 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 transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.