SRS Capital Advisors Inc. Purchases Shares of 12,226 Veralto Co. (NYSE:VLTO)

SRS Capital Advisors Inc. acquired a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,226 shares of the company’s stock, valued at approximately $1,006,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the 4th quarter valued at about $347,827,000. Fisher Asset Management LLC purchased a new stake in shares of Veralto during the fourth quarter worth about $93,845,000. abrdn plc bought a new stake in Veralto in the fourth quarter valued at about $80,959,000. Vontobel Holding Ltd. bought a new stake in Veralto in the fourth quarter valued at about $60,495,000. Finally, Swiss National Bank bought a new stake in Veralto in the fourth quarter valued at about $60,187,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VLTO. Citigroup increased their price target 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 report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. BNP Paribas initiated coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target for the company. Royal Bank of Canada increased their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, Robert W. Baird increased their price target on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Price Performance

Shares of NYSE:VLTO traded up $2.04 during midday trading on Friday, hitting $95.89. 939,579 shares of the stock were exchanged, compared to its average volume of 1,601,241. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $96.13. The business’s fifty day simple moving average is $89.20 and its two-hundred day simple moving average is $80.93.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, March 27th.

Insider Activity

In other 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mattias Bystrom sold 500 shares of Veralto 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 directly owns 30,310 shares in the company, valued at $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.