Mitsubishi UFJ Asset Management Co. Ltd. Acquires 47,486 Shares of Veralto Co. (NYSE:VLTO)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Veralto Co. (NYSE:VLTO - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,303 shares of the company's stock after purchasing an additional 47,486 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Veralto worth $39,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VLTO. Savant Capital LLC boosted its holdings in shares of Veralto by 0.5% in the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company's stock worth $2,055,000 after acquiring an additional 98 shares during the period. Allworth Financial LP lifted its holdings in Veralto by 19.4% during the 4th quarter. Allworth Financial LP now owns 622 shares of the company's stock worth $64,000 after purchasing an additional 101 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company's stock worth $645,000 after purchasing an additional 103 shares during the period. Quent Capital LLC grew its holdings in Veralto by 17.3% during the 4th quarter. Quent Capital LLC now owns 699 shares of the company's stock valued at $71,000 after buying an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Veralto by 35.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock valued at $43,000 after buying an additional 109 shares during the period. 91.28% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the transaction, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock valued at $2,234,030 over the last ninety days. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VLTO. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target for the company. Royal Bank of Canada lowered their price objective on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on 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 given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $113.50.

Veralto Price Performance

Shares of Veralto stock traded down $3.18 during trading on Thursday, hitting $95.50. 251,550 shares of the stock traded hands, compared to its average volume of 1,436,189. The stock 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. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. Veralto Co. has a 52 week low of $86.04 and a 52 week high of $115.00. The firm's fifty day moving average is $99.18 and its 200-day moving average is $103.73.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared 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 of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.46%. Veralto's payout ratio is currently 13.17%.

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.