Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,217 shares of the company's stock after purchasing an additional 21,939 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Veralto were worth $7,865,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company's stock worth $1,074,654,000 after buying an additional 860,608 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company's stock worth $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. FMR LLC increased its position in shares of Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company's stock valued at $372,462,000 after purchasing an additional 162,347 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company's stock valued at $322,827,000 after purchasing an additional 11,430 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.
Veralto Stock Performance
VLTO traded up $0.07 during trading hours on Tuesday, reaching $99.85. The company's stock had a trading volume of 938,455 shares, compared to its average volume of 1,446,454. The company's 50-day moving average is $102.78 and its 200-day moving average is $106.34. Veralto Co. has a 52 week low of $81.23 and a 52 week high of $115.00. The firm has a market cap of $24.69 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.87 and a current ratio of 1.92.
Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts forecast that Veralto Co. will post 3.63 EPS for the current year.
Veralto Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Veralto's previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto's payout ratio is presently 13.17%.
Wall Street Analyst Weigh In
VLTO has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada decreased their price objective on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. Finally, 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $112.55.
View Our Latest Analysis on Veralto
About Veralto
(
Free Report)
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.
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