Picton Mahoney Asset Management Acquires Shares of 31,505 Veralto Co. (NYSE:VLTO)

Picton Mahoney Asset Management acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 31,505 shares of the company’s stock, valued at approximately $2,590,000.

A number of other large investors have also added to or reduced their stakes in the stock. Neville Rodie & Shaw Inc. purchased a new position in shares of Veralto in the fourth quarter worth $1,732,000. Anchor Investment Management LLC purchased a new position in shares of Veralto in the fourth quarter worth $117,000. Park National Corp OH bought a new stake in shares of Veralto in the fourth quarter worth $1,243,000. M&R Capital Management Inc. bought a new stake in shares of Veralto in the fourth quarter worth $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Veralto in the fourth quarter worth $285,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on VLTO. Robert W. Baird boosted their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Stifel Nicolaus boosted 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. The Goldman Sachs Group began coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Argus began coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Trading Down 0.6 %

VLTO stock traded down $0.54 during midday trading on Wednesday, reaching $96.73. 1,035,279 shares of the company traded hands, compared to its average volume of 1,579,990. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $97.39. 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 business has a 50 day moving average of $89.97 and a 200-day moving average of $81.67.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, sell-side analysts forecast that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%.

Insider Activity

In related news, SVP Melissa Aquino sold 8,041 shares of the 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 owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Veralto news, 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 sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 approximately $2,609,691. The disclosure for this sale can be found here. 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.