Bank Julius Baer & Co. Ltd Zurich Makes New Investment in Veralto Co. (NYSE:VLTO)

Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,722 shares of the company’s stock, valued at approximately $882,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC bought a new position in Veralto during the 4th quarter worth $25,000. First Command Advisory Services Inc. bought a new position in Veralto during the 4th quarter worth $25,000. Blue Trust Inc. bought a new position in Veralto during the 4th quarter worth $26,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of Veralto in the 4th quarter valued at $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Veralto in the 4th quarter valued at $27,000. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was 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 in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird raised their target price on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday. Argus assumed coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. Royal Bank of Canada raised their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Finally, BNP Paribas assumed coverage on Veralto in a report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Stock Performance

Shares of VLTO stock opened at $94.12 on Friday. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.40. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.40 and a current ratio of 1.83. The stock’s fifty day simple moving average is $88.53 and its 200 day simple moving average is $80.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

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.