Mirae Asset Global Investments Co. Ltd. Acquires 7,212 Shares of Veralto Corporation $VLTO

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Veralto Corporation (NYSE:VLTO) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,383 shares of the company’s stock after buying an additional 7,212 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Veralto were worth $5,052,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in Veralto in the second quarter valued at $26,000. Root Financial Partners LLC acquired a new position in shares of Veralto during the 3rd quarter worth about $27,000. Loomis Sayles & Co. L P acquired a new stake in shares of Veralto in the second quarter valued at approximately $28,000. True Wealth Design LLC lifted its holdings in shares of Veralto by 852.9% in the 3rd quarter. True Wealth Design LLC now owns 324 shares of the company’s stock valued at $35,000 after buying an additional 290 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Veralto in the 2nd quarter worth about $44,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VLTO. BMO Capital Markets dropped their price objective on shares of Veralto from $123.00 to $114.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Barclays increased their price objective on Veralto from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $105.00 target price (down previously from $125.00) on shares of Veralto in a research report on Wednesday, December 10th. Royal Bank Of Canada boosted their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings cut shares of Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 31st. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.89.

Veralto Stock Performance

VLTO opened at $98.89 on Monday. The stock has a market cap of $24.55 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 1.40. Veralto Corporation has a 1-year low of $83.86 and a 1-year high of $110.11. The stock’s 50 day simple moving average is $100.88 and its 200 day simple moving average is $103.03.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Veralto’s previous quarterly dividend of $0.11. Veralto’s dividend payout ratio (DPR) is currently 14.25%.

Insider Activity

In related news, SVP Mattias Bystrom sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.73, for a total value of $101,730.00. Following the completion of the transaction, the senior vice president owned 31,430 shares of the company’s stock, valued at approximately $3,197,373.90. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.36% of the stock is owned by corporate insiders.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.