Elo Mutual Pension Insurance Co Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Elo Mutual Pension Insurance Co raised its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,236 shares of the company's stock after buying an additional 3,392 shares during the period. Elo Mutual Pension Insurance Co's holdings in Veralto were worth $2,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VLTO. Vanguard Group Inc. increased its holdings in Veralto by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock valued at $2,989,011,000 after buying an additional 146,234 shares during the last quarter. State Street Corp lifted 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 valued at $1,074,654,000 after purchasing an additional 860,608 shares in the last quarter. Amundi grew its holdings in Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company's stock valued at $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC increased its position in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company's stock worth $654,232,000 after buying an additional 558,393 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of 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 buying an additional 1,009,170 shares during the period. 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 several analyst reports. Stifel Nicolaus reduced 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, February 6th. Royal Bank of Canada decreased their price objective on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 6th. Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group started coverage on Veralto in a research note on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Veralto currently has an average rating of "Hold" and an average target price of $113.50.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at $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 is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Monday, March 24th. The shares were 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 of the company's stock, valued at $11,495,742.72. This represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,881 shares of company stock valued at $2,176,770. Company insiders own 0.31% of the company's stock.

Veralto Trading Up 0.8 %

Shares of NYSE:VLTO traded up $0.75 during trading on Wednesday, reaching $98.37. The company's stock had a trading volume of 176,536 shares, compared to its average volume of 1,498,828. The stock has a market capitalization of $24.35 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 12 month low of $85.91 and a 12 month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The firm's 50 day simple moving average is $99.26 and its two-hundred day simple moving average is $103.77.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 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, research analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is currently 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.