Meyer Handelman Co. Acquires 4,722 Shares of Veralto Co. (NYSE:VLTO)

Meyer Handelman Co. increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 37.2% in the first quarter, Holdings Channel.com reports. The fund owned 17,425 shares of the company’s stock after buying an additional 4,722 shares during the quarter. Meyer Handelman Co.’s holdings in Veralto were worth $1,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Czech National Bank lifted its stake in shares of Veralto by 0.5% during the 1st quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after acquiring an additional 192 shares during the last quarter. Delta Asset Management LLC TN raised its position in Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Fishman Jay A Ltd. MI raised 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 valued at $343,000 after purchasing an additional 238 shares in the last quarter. Sugarloaf Wealth Management LLC bought a new stake in Veralto during the 4th quarter valued at $25,000. Finally, Blue Trust Inc. bought a new stake in Veralto during the 4th quarter valued at $26,000. 91.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Veralto

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VLTO shares. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen started coverage on Veralto in a research report on Monday, June 17th. They issued a “hold” rating and a $95.00 price target for the company. Robert W. Baird boosted their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Veralto Stock Down 1.4 %

Shares of VLTO stock opened at $98.87 on Friday. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $102.58. The stock’s fifty day moving average price is $97.26 and its 200 day moving average price is $87.87. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share 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 analysts’ expectations of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

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

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.