10 Best New Stocks to Buy According to Billionaires

6. Veralto Corporation (NYSE:VLTO)

Market Capitalization: $22.756 billion

Number of Hedge Fund Holders: 43

Number of Billionaires: 10

Total Value of Billionaire Holdings: $268,661,558

Veralto Corporation (NYSE:VLTO) is a technology company that operates through two main business segments namely, the Water Quality Segment and the Product Quality & Innovation Segment. The Water Quality Segment provides advanced water analytics and treatment solutions. Whereas, the Product Quality & Innovation Segment deals in solutions for marking, coding, packaging, and color management of packaged consumer goods.

Earlier this year, on February 17, Veralto Corporation (NYSE:VLTO) announced its definitive agreement to acquire AQUAFIDES, an Australian ultraviolet (UV) water treatment technology, for approximately $20 million. The deal strategically enhances the company’s Water Quality segment by expanding its UV treatment portfolio. Moreover, during the fiscal fourth quarter of 2024, the company grew its total sales by 4.4% year-over-year. This was driven by growth in both its segments.

The Water Quality segment saw a core sales growth of 4.9% driven by volume in Water Treatment Solutions and UV Treatment Systems, whereas, Product Quality & Innovation improved its core sales by 4.1%.

Looking ahead, management expects core sales to be in the low to mid-single-digit range for fiscal 2025. Being held by 10 billionaire investors, Veralto Corporation (NYSE:VLTO) is one of the best new stocks to buy according to billionaires.