IMA Wealth Inc. Takes Position in Veralto Co. (NYSE:VLTO)

IMA Wealth Inc. purchased a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,627 shares of the company’s stock, valued at approximately $627,000.

A number of other institutional investors also recently modified their holdings of VLTO. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto in the fourth quarter valued at about $25,000. First Command Advisory Services Inc. bought a new stake in Veralto during the fourth quarter worth about $25,000. Blue Trust Inc. bought a new stake in Veralto during the fourth quarter worth about $26,000. Dougherty Wealth Advisers LLC bought a new stake in Veralto during the fourth quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Veralto during the fourth quarter worth about $27,000. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. BNP Paribas started coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Finally, Argus started coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.18.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Veralto Stock Performance

NYSE VLTO traded up $0.33 during trading on Friday, reaching $94.12. 1,151,386 shares of the company’s stock were exchanged, compared to its average volume of 1,946,553. The business 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 1.76, a current ratio of 1.83 and a quick ratio of 1.40. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Veralto Co. will post 3.3 earnings per share for the current year.

Veralto Dividend Announcement

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

Veralto Company 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.