Parisi Gray Wealth Management Purchases Shares of 3,127 Veralto Co. (NYSE:VLTO)

Parisi Gray Wealth Management acquired a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,127 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors have also modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new position in Veralto during the fourth quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new position in shares of Veralto in the 4th quarter valued at $35,000. North Star Investment Management Corp. purchased a new position in shares of Veralto in the 4th quarter valued at $51,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Veralto during the fourth quarter worth about $58,000. Finally, CVA Family Office LLC acquired a new position in shares of Veralto during the fourth quarter worth about $58,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VLTO. Royal Bank of Canada lifted their target price on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Wolfe Research started coverage on Veralto in a report on Wednesday, December 13th. They issued a “peer perform” rating for the company. Stifel Nicolaus lowered their price objective on Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. The Goldman Sachs Group started coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Finally, Argus initiated coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto presently has an average rating of “Moderate Buy” and an average target price of $91.36.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Veralto Price Performance

VLTO stock traded down $0.28 during midday trading on Thursday, reaching $89.46. The company’s stock had a trading volume of 34,607 shares, compared to its average volume of 1,469,592. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $90.69. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The stock’s 50-day moving average price is $84.21.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

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.