Veralto Co. (NYSE:VLTO) Stock Position Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in shares of Veralto Co. (NYSE:VLTO) by 19.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,680 shares of the company’s stock after selling 52,137 shares during the quarter. Mackenzie Financial Corp owned 0.09% of Veralto worth $17,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VLTO. Impax Asset Management Group plc acquired a new stake in Veralto in the 4th quarter valued at about $347,827,000. Vontobel Holding Ltd. bought a new stake in Veralto during the fourth quarter worth approximately $60,495,000. DekaBank Deutsche Girozentrale acquired a new position in Veralto in the fourth quarter worth approximately $59,869,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Veralto in the fourth quarter worth approximately $47,229,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Veralto during the 4th quarter worth $19,498,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VLTO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price for the company. Royal Bank of Canada raised their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Stifel Nicolaus boosted their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective for the company. Finally, BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Insider Buying and Selling at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Down 1.9 %

NYSE VLTO opened at $88.80 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $92.15. The firm’s fifty day simple moving average is $87.54 and its 200-day simple moving average is $79.72.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts expect that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Wednesday, March 27th.

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.