Mizuho Securities USA LLC Acquires 7,415 Shares of Veralto Co. (NYSE:VLTO)

Mizuho Securities USA LLC raised its holdings in Veralto Co. (NYSE:VLTO) by 46.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,439 shares of the company’s stock after purchasing an additional 7,415 shares during the quarter. Mizuho Securities USA LLC’s holdings in Veralto were worth $2,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in VLTO. Nordea Investment Management AB raised its stake in Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the period. State Street Corp raised its position in shares of Veralto by 9.8% in 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. Principal Financial Group Inc. lifted its stake in shares of Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after buying an additional 558,393 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Veralto in the 4th quarter valued at about $51,986,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Veralto Stock Performance

VLTO opened at $98.27 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a 52-week low of $85.91 and a 52-week high of $115.00. The firm has a market cap of $24.33 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The business’s fifty day moving average is $99.93 and its 200-day moving average is $104.27.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock worth $1,150,366 over the last three months. Insiders own 0.31% of the company’s stock.

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.