Nordea Investment Management AB Acquires 1,009,170 Shares of Veralto Co. (NYSE:VLTO)

Nordea Investment Management AB grew its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,923,747 shares of the company's stock after acquiring an additional 1,009,170 shares during the quarter. Nordea Investment Management AB owned about 1.59% of Veralto worth $400,928,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VLTO. Canada Pension Plan Investment Board grew its stake in shares of Veralto by 32.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company's stock valued at $23,256,000 after purchasing an additional 60,300 shares during the period. PEAK6 Investments LLC increased its stake in 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 in the last quarter. Northstar Asset Management Inc. lifted its position in shares of Veralto by 22.5% in the third quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company's stock valued at $8,762,000 after acquiring an additional 14,398 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company's stock worth $18,259,000 after purchasing an additional 15,048 shares in the last quarter. Finally, Ecofi Investissements SA bought a new stake in Veralto during the 2nd quarter valued at approximately $7,019,000. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 0.3 %

VLTO traded up $0.29 during trading hours on Monday, reaching $101.09. 1,180,402 shares of the company's stock traded hands, compared to its average volume of 1,132,934. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average price of $104.35 and a 200 day moving average price of $105.59. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The firm has a market capitalization of $25.00 billion, a PE ratio of 31.20, a PEG ratio of 4.30 and a beta of 1.06.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Veralto's previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. Veralto's payout ratio is 13.58%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Veralto from $119.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. 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 objective for the company. Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, BMO Capital Markets increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company an "outperform" rating in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Veralto has a consensus rating of "Moderate Buy" and a consensus price target of $109.50.

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.