Ninety One UK Ltd Takes Position in Veralto Co. (NYSE:VLTO)

Ninety One UK Ltd purchased a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, HoldingsChannel reports. The fund purchased 16,434 shares of the company’s stock, valued at approximately $1,352,000.

Other large investors have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto in the 4th quarter worth about $25,000. Blue Trust Inc. purchased a new position in Veralto in the 4th quarter worth about $26,000. Dougherty Wealth Advisers LLC purchased a new position in Veralto in the 4th quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Veralto in the 4th quarter worth about $27,000. Finally, Pinnacle Bancorp Inc. purchased a new position in Veralto in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Down 1.9 %

Shares of NYSE:VLTO opened at $88.80 on Friday. The stock has a 50 day moving average of $87.54 and a 200 day moving average of $79.72. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $92.15.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. Sell-side analysts expect that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VLTO shares. Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Argus started coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Stifel Nicolaus upped their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.36.

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.