Park Avenue Securities LLC Raises Stock Position in Veralto Co. (NYSE:VLTO)

Park Avenue Securities LLC boosted its position in shares of Veralto Co. (NYSE:VLTO) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,496 shares of the company’s stock after acquiring an additional 1,725 shares during the period. Park Avenue Securities LLC’s holdings in Veralto were worth $1,463,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC purchased a new position in Veralto during the fourth quarter valued at approximately $25,000. Blue Trust Inc. purchased a new position in Veralto in the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. purchased a new position in Veralto in the 4th quarter worth approximately $25,000. Delta Asset Management LLC TN grew its stake in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock worth $26,000 after buying an additional 216 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

NYSE:VLTO opened at $98.87 on Monday. The company has a fifty day moving average of $97.26 and a 200 day moving average of $87.96. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating 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 company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VLTO shares. Robert W. Baird boosted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Stifel Nicolaus boosted their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veralto news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.