Spire Wealth Management Makes New Investment in Veralto Co. (NYSE:VLTO)

Spire Wealth Management acquired a new position in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,744 shares of the company's stock, valued at approximately $279,000.

A number of other hedge funds have also bought and sold shares of VLTO. 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. PEAK6 Investments LLC lifted its position in shares of Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock valued at $977,000 after acquiring an additional 6,211 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Veralto by 18.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock worth $1,755,000 after purchasing an additional 2,676 shares during the period. Czech National Bank grew its holdings in Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after buying an additional 3,284 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Veralto by 15.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock valued at $1,438,000 after buying an additional 1,889 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on VLTO shares. Royal Bank of Canada decreased their price target 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. Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 target price for the company. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday. Finally, Citigroup decreased their target price on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Veralto currently has a consensus rating of "Hold" and a consensus target price of $112.55.

Veralto Trading Up 1.1 %

Shares of NYSE VLTO traded up $1.07 during mid-day trading on Monday, reaching $99.88. The company had a trading volume of 1,461,479 shares, compared to its average volume of 1,465,995. The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. Veralto Co. has a 52 week low of $81.23 and a 52 week high of $115.00. The business's 50-day moving average is $102.92 and its 200-day moving average is $106.34.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities analysts expect that Veralto Co. will post 3.63 earnings per share for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Veralto's previous quarterly dividend of $0.09. Veralto's dividend payout ratio (DPR) is 13.17%.

Veralto 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.