Cambridge Trust Co. Makes New $1.51 Million Investment in Veralto Co. (NYSE:VLTO)

Cambridge Trust Co. acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,376 shares of the company’s stock, valued at approximately $1,512,000.

Several other hedge funds also recently modified their holdings of the business. Fishman Jay A Ltd. MI boosted its holdings in Veralto by 6.0% in the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after purchasing an additional 238 shares during the period. Sugarloaf Wealth Management LLC acquired a new position in shares of Veralto during the fourth quarter valued at about $25,000. Blue Trust Inc. bought a new stake in shares of Veralto in the fourth quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Veralto during the fourth quarter worth about $27,000. Finally, Dougherty Wealth Advisers LLC acquired a new stake in shares of Veralto during the 4th quarter worth approximately $27,000. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

Shares of VLTO stock opened at $88.80 on Friday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $92.15. The stock has a 50-day moving average price of $87.54 and a 200 day moving average price of $79.72. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

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

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.41%.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on VLTO. Royal Bank of Canada lifted their target price 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. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.36.

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.