Manchester Capital Management LLC Makes New $98,000 Investment in Veralto Co. (NYSE:VLTO)

Manchester Capital Management LLC purchased a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,188 shares of the company’s stock, valued at approximately $98,000.

A number of other large investors have also made changes to their positions in the company. Brown Advisory Inc. purchased a new position in Veralto during the 4th quarter worth approximately $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto in the fourth quarter valued at $347,827,000. Massachusetts Financial Services Co. MA boosted its position in shares of Veralto by 34,761.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,825 shares of the company’s stock worth $157,925,000 after buying an additional 1,914,318 shares during the period. Montrusco Bolton Investments Inc. purchased a new position in shares of Veralto during the fourth quarter valued at $102,508,000. Finally, Fisher Asset Management LLC acquired a new position in Veralto during the fourth quarter valued at $93,845,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research reports. The Goldman Sachs Group started coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Stifel Nicolaus boosted their price objective 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. Royal Bank of Canada upped their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. BMO Capital Markets lifted their target price 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. Finally, Robert W. Baird boosted their price target on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Price Performance

Shares of VLTO traded up $0.15 during mid-day trading on Friday, hitting $98.60. 1,319,357 shares of the company’s stock were exchanged, compared to its average volume of 1,710,525. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $99.37. The firm has a fifty day moving average of $91.26 and a two-hundred day moving average of $83.01. 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 released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Veralto Co. will post 3.34 EPS for the current 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 given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Wednesday, March 27th.

About Veralto

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.