Ilmarinen Mutual Pension Insurance Co Buys Shares of 24,000 Veralto Co. (NYSE:VLTO)

Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $2,444,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Veralto by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock worth $2,989,011,000 after buying an additional 146,234 shares during the last quarter. State Street Corp boosted its stake in shares of Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares in the last quarter. Amundi increased its holdings in shares of Veralto by 2.3% during the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after acquiring an additional 158,342 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock valued at $670,781,000 after acquiring an additional 733,056 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Veralto by 1.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock worth $485,304,000 after purchasing an additional 54,795 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several analyst reports. Citigroup lowered their price target on 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 target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.50.

Veralto Stock Down 5.5 %

Shares of VLTO opened at $88.71 on Friday. Veralto Co. has a 52 week low of $86.04 and a 52 week high of $115.00. The firm has a market capitalization of $22.00 billion, a P/E ratio of 26.56, a P/E/G ratio of 4.24 and a beta of 0.97. The company has a 50-day simple moving average of $98.73 and a 200-day simple moving average of $103.48. 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 (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.50%. Veralto’s dividend payout ratio is currently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a filing 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 on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock valued at $2,234,030 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

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.