Parkside Financial Bank & Trust Purchases 1,057 Shares of Veralto Co. (NYSE:VLTO)

Parkside Financial Bank & Trust increased its stake in shares of Veralto Co. (NYSE:VLTO) by 1,112.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,152 shares of the company’s stock after buying an additional 1,057 shares during the period. Parkside Financial Bank & Trust’s holdings in Veralto were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fishman Jay A Ltd. MI lifted its position in Veralto by 6.0% during the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock worth $343,000 after buying an additional 238 shares in the last quarter. Sugarloaf Wealth Management LLC acquired a new position in Veralto during the 4th quarter valued at about $25,000. Blue Trust Inc. acquired a new position in Veralto during the 4th quarter valued at about $26,000. First Command Advisory Services Inc. acquired a new position in Veralto during the 4th quarter valued at about $25,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Veralto during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

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 stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped 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. The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Price Performance

NYSE VLTO opened at $93.79 on Friday. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $95.40. The business has a 50 day simple moving average of $88.37 and a 200 day simple moving average of $80.23. 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 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. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts forecast that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.38%.

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.