Clearstead Trust LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

Clearstead Trust LLC bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 915 shares of the company’s stock, valued at approximately $75,000.

Other large investors have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto in the 4th quarter valued at approximately $25,000. First Command Advisory Services Inc. purchased a new stake in shares of Veralto in the 4th quarter worth about $25,000. Blue Trust Inc. bought a new position in shares of Veralto in the 4th quarter worth about $26,000. Dougherty Wealth Advisers LLC purchased a new position in Veralto during the 4th quarter valued at about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Veralto in the fourth quarter worth about $27,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO traded up $2.04 during midday trading on Friday, hitting $95.89. 940,032 shares of the company traded hands, compared to its average volume of 1,920,957. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $96.13. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The firm has a 50 day moving average of $89.39 and a 200-day moving average of $81.18.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid 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.

Analyst Upgrades and Downgrades

VLTO has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Citigroup upped their price target 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. Argus started coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Buying and Selling at Veralto

In other news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Mattias Bystrom sold 500 shares of the 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 sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is owned by company 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.