Traynor Capital Management Inc. Makes New $278,000 Investment in Veralto Co. (NYSE:VLTO)

Traynor Capital Management Inc. bought a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,383 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC bought a new stake in Veralto in the fourth quarter worth approximately $25,000. Fortitude Family Office LLC bought a new stake in Veralto in the fourth quarter worth approximately $35,000. North Star Investment Management Corp. bought a new stake in Veralto in the fourth quarter worth approximately $51,000. Compagnie Lombard Odier SCmA acquired a new stake in Veralto in the fourth quarter valued at approximately $58,000. Finally, CVA Family Office LLC acquired a new stake in Veralto in the fourth quarter valued at approximately $58,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Down 1.2 %

Shares of NYSE:VLTO traded down $1.08 during midday trading on Friday, reaching $88.66. The company’s stock had a trading volume of 1,545,606 shares, compared to its average volume of 1,668,871. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $90.69. The business has a 50 day moving average of $84.21. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on VLTO. Stifel Nicolaus reduced their price objective on Veralto from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Royal Bank of Canada raised their price objective 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, Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

Insider Activity 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 shares were 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 approximately $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.