Vinva Investment Management Ltd Buys New Shares in Veralto Co. (NYSE:VLTO)

Vinva Investment Management Ltd bought a new stake in Veralto Co. (NYSE:VLTO) during the 4th quarter, HoldingsChannel reports. The firm bought 10,132 shares of the company’s stock, valued at approximately $1,034,000.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the period. Amundi raised its holdings in shares of Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC raised its holdings in shares of Veralto by 10.5% during the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the period. Nordea Investment Management AB raised its holdings in shares of Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. Finally, FMR LLC raised its holdings in shares of Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after purchasing an additional 162,347 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Price Performance

Veralto stock opened at $98.14 on Friday. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The company’s 50 day moving average price is $100.03 and its two-hundred day moving average price is $104.54. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock has a market cap of $24.29 billion, a P/E ratio of 29.38, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s payout ratio is currently 13.17%.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,467 shares of company stock worth $1,150,366 in the last quarter. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several research reports. Citigroup dropped their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.50.

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.