Resona Asset Management Co. Ltd. Buys Shares of 76,383 Veralto Co. (NYSE:VLTO)

Resona Asset Management Co. Ltd. purchased a new position in Veralto Co. (NYSE:VLTO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 76,383 shares of the company's stock, valued at approximately $7,793,000.

A number of other institutional investors have also recently made changes to their positions in VLTO. OFI Invest Asset Management purchased a new stake in shares of Veralto in the fourth quarter worth about $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto in the fourth quarter worth $29,000. Albion Financial Group UT boosted its stake in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after buying an additional 336 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto in the 4th quarter valued at about $42,000. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Veralto by 35.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock worth $43,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares in the company, valued at approximately $11,495,742.72. This trade represents a 8.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president now owns 10,011 shares of the company's stock, valued at $971,567.55. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,471 shares of company stock valued at $2,234,030. Insiders own 0.31% of the company's stock.

Veralto Stock Up 1.1 %

Shares of NYSE:VLTO traded up $0.99 during midday trading on Friday, reaching $89.69. The company's stock had a trading volume of 2,132,306 shares, compared to its average volume of 1,516,665. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $96.73 and a 200-day moving average of $102.42. The firm has a market capitalization of $22.25 billion, a P/E ratio of 26.85, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a 12-month low of $83.87 and a 12-month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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, research analysts anticipate 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. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Veralto's dividend payout ratio (DPR) is 13.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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. Citigroup cut their target price 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. Finally, Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Veralto presently has a consensus rating of "Hold" and an average price target of $113.50.

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.