Vinva Investment Management Ltd Makes New Investment in Veralto Co. (NYSE:VLTO)

Vinva Investment Management Ltd bought a new position in shares of Veralto Co. (NYSE:VLTO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,132 shares of the company's stock, valued at approximately $1,034,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew 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 purchasing an additional 1,009,170 shares during the last quarter. State Street Corp grew its position in shares of Veralto by 9.8% in the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company's stock valued at $1,074,654,000 after buying an additional 860,608 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Veralto by 207.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock valued at $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company's stock valued at $654,232,000 after buying an additional 558,393 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Veralto during the fourth quarter worth about $51,986,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Down 0.5 %

VLTO traded down $0.52 during midday trading on Tuesday, hitting $97.74. The company had a trading volume of 1,201,945 shares, compared to its average volume of 1,413,474. The stock's 50 day moving average price is $99.93 and its 200 day moving average price is $104.27. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 4.24 and a beta of 1.11. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Remove Ads

Veralto (NYSE:VLTO - Get Free Report) last issued 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 return on equity of 49.29% and a net margin of 16.04%. On average, research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto's payout ratio is 13.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus reduced their target price on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Citigroup decreased their price objective 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. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target on the stock. 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, the company presently has an average rating of "Hold" and a consensus price target of $113.50.

Insider Buying and Selling

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock worth $1,150,366 in the last ninety days. Corporate insiders own 0.31% of the company's stock.

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.