6,631 Shares in Veralto Co. (NYSE:VLTO) Purchased by Palmer Knight Co

Palmer Knight Co acquired a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,631 shares of the company’s stock, valued at approximately $545,000. Veralto makes up approximately 0.3% of Palmer Knight Co’s portfolio, making the stock its 29th largest holding.

Other large investors also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new stake in shares of Veralto in the fourth quarter valued at about $25,000. First Command Advisory Services Inc. bought a new position in shares of Veralto during the fourth quarter valued at $25,000. Blue Trust Inc. bought a new position in shares of Veralto in the fourth quarter valued at about $26,000. Dougherty Wealth Advisers LLC bought a new position in shares of Veralto in the fourth quarter valued at about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Veralto in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Veralto stock traded up $1.36 during midday trading on Monday, hitting $95.48. The stock had a trading volume of 590,255 shares, compared to its average volume of 1,607,552. The business has a fifty day moving average price of $88.53 and a 200 day moving average price of $80.44. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $95.53. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76.

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

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VLTO. Robert W. Baird increased their price objective on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target on the stock. Royal Bank of Canada boosted 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, BMO Capital Markets boosted their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Veralto Company 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.