KLP Kapitalforvaltning AS Invests $10.04 Million in Veralto Co. (NYSE:VLTO)

KLP Kapitalforvaltning AS acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 98,449 shares of the company's stock, valued at approximately $10,036,000.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto in the 4th quarter worth $29,000. Albion Financial Group UT increased its stake in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after acquiring an additional 336 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Veralto during the 4th quarter valued at about $42,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Veralto in the third quarter valued at about $46,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Down 2.0 %

VLTO traded down $1.92 on Friday, hitting $95.97. 834,861 shares of the company were exchanged, compared to its average volume of 1,499,859. Veralto Co. has a twelve month low of $85.91 and a twelve month high of $115.00. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $99.48 and a two-hundred day moving average price of $104.01.

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Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results 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%. On average, equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is presently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction 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 sale, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 over the last ninety days. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on VLTO. Stifel Nicolaus reduced their target price 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. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective on the stock. Royal Bank of Canada cut their target price on Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Finally, Citigroup reduced their target price on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Veralto currently has an average rating of "Hold" and an average price target of $113.50.

Veralto Company 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.