West Paces Advisors Inc. Makes New $45,000 Investment in Veralto Co. (NYSE:VLTO)

West Paces Advisors Inc. acquired a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 548 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto during the 4th quarter worth about $25,000. Blue Trust Inc. purchased a new position in shares of Veralto during the 4th quarter worth about $26,000. Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto during the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new position in shares of Veralto during the 4th quarter worth about $29,000. Finally, Gradient Investments LLC boosted its stake in shares of Veralto by 2,678.6% during the 4th quarter. Gradient Investments LLC now owns 389 shares of the company’s stock worth $32,000 after purchasing an additional 375 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

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 transaction of $43,050.00. Following the completion of the sale, the insider now 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. 0.31% of the stock is currently owned by corporate insiders.

Veralto Trading Up 1.1 %

Shares of VLTO opened at $90.89 on Wednesday. The company has a 50 day moving average price of $87.23 and a 200-day moving average price of $79.58. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $91.37. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89.

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 the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company posted $0.80 EPS. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VLTO shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. BNP Paribas started coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. Finally, BMO Capital Markets started coverage on shares of Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.