Korea Investment CORP Buys 72,737 Shares of Veralto Co. (NYSE:VLTO)

Korea Investment CORP lifted its stake in Veralto Co. (NYSE:VLTO - Free Report) by 61.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,133 shares of the company's stock after acquiring an additional 72,737 shares during the quarter. Korea Investment CORP owned 0.08% of Veralto worth $19,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VLTO. PEAK6 Investments LLC boosted its stake in shares of Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock worth $977,000 after buying an additional 6,211 shares during the last quarter. Nordea Investment Management AB boosted its position in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock worth $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after purchasing an additional 2,676 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Veralto by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company's stock valued at $18,259,000 after purchasing an additional 15,048 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock worth $5,461,000 after purchasing an additional 3,284 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

VLTO has been the subject of several recent research reports. Royal Bank of Canada cut their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research report on Thursday, February 6th. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Six 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $113.50.

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 approximately $849,964.50. This represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,471 shares of company stock valued at $2,234,030 in the last 90 days. Insiders own 0.31% of the company's stock.

Veralto Price Performance

Shares of NYSE:VLTO traded down $3.18 during trading on Thursday, hitting $95.50. 251,550 shares of the company's stock were exchanged, compared to its average volume of 1,436,189. The business's 50-day simple moving average is $99.18 and its 200 day simple moving average is $103.73. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a 52-week low of $86.04 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business 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 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's payout ratio is currently 13.17%.

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.