Norges Bank Takes Position in Veralto Co. (NYSE:VLTO)

Norges Bank acquired a new stake in shares of Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,837,778 shares of the company's stock, valued at approximately $289,028,000. Norges Bank owned approximately 1.15% of Veralto as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in shares of Veralto by 4.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company's stock worth $1,507,000 after purchasing an additional 560 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in 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 in the last quarter. FMR LLC raised its holdings in Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company's stock worth $372,462,000 after buying an additional 162,347 shares during the last quarter. Townsquare Capital LLC raised its holdings in Veralto by 113.4% in the third quarter. Townsquare Capital LLC now owns 4,754 shares of the company's stock worth $532,000 after buying an additional 2,526 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Veralto by 8.5% in the third quarter. Glenmede Trust Co. NA now owns 5,947 shares of the company's stock worth $665,000 after buying an additional 465 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective for the company. 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. Stifel Nicolaus reduced their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 6th. Six 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, Veralto presently has a consensus rating of "Hold" and a consensus target price of $113.50.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of Veralto 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 transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,881 shares of company stock valued at $2,176,770. Company insiders own 0.31% of the company's stock.

Veralto Stock Performance

Shares of NYSE VLTO traded up $0.90 during midday trading on Wednesday, hitting $98.52. 423,488 shares of the company's stock traded hands, compared to its average volume of 1,501,214. The firm has a fifty day moving average of $99.26 and a 200 day moving average of $103.77. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 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%. On average, analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto's dividend payout ratio (DPR) is presently 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.