Farmers & Merchants Investments Inc. Invests $1.08 Million in Veralto Co. (NYSE:VLTO)

Farmers & Merchants Investments Inc. purchased a new position in shares of Veralto Co. (NYSE:VLTOFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,115 shares of the company’s stock, valued at approximately $1,079,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of Veralto during the fourth quarter worth about $8,876,000. Walter Public Investments Inc. purchased a new stake in Veralto in the fourth quarter valued at approximately $7,157,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Veralto in the fourth quarter valued at approximately $6,092,000. Arthur M. Cohen & Associates LLC purchased a new stake in Veralto in the fourth quarter valued at approximately $5,374,000. Finally, Nordea Investment Management AB purchased a new stake in Veralto in the fourth quarter valued at approximately $5,075,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VLTO has been the subject of a number of recent analyst reports. Argus initiated 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. BMO Capital Markets began coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Wolfe Research began coverage on shares of Veralto in a research report on Wednesday, December 13th. They set a “peer perform” rating on the stock. BNP Paribas began coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Five investment 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, Veralto currently has an average rating of “Moderate Buy” and a consensus target price of $91.36.

Get Our Latest Stock Report on VLTO

Veralto Price Performance

NYSE VLTO opened at $86.59 on Wednesday. The stock’s fifty day moving average price is $85.00. 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.

Veralto (NYSE:VLTOGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.87 EPS 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 analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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 dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.42%.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s 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 directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Veralto Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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