Van ECK Associates Corp Takes $6.55 Million Position in Veralto Co. (NYSE:VLTO)

Van ECK Associates Corp bought a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 79,627 shares of the company’s stock, valued at approximately $6,550,000.

A number of other large investors also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new stake in Veralto during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. purchased a new stake in Veralto in the 4th quarter valued at $25,000. Blue Trust Inc. bought a new position in Veralto during the 4th quarter valued at $26,000. Dougherty Wealth Advisers LLC purchased a new position in Veralto during the 4th quarter worth $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto during the fourth quarter worth about $27,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 2.2 %

Shares of VLTO opened at $95.89 on Friday. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $96.13. The stock’s 50-day simple moving average is $89.39 and its 200 day simple moving average is $81.12. 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 (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on VLTO shares. BMO Capital Markets lifted their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. Finally, Argus began coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 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.