Sumitomo Mitsui Trust Holdings Inc. Buys New Position in Veralto Co. (NYSE:VLTO)

Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 574,144 shares of the company’s stock, valued at approximately $47,229,000. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of Veralto as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mn Services Vermogensbeheer B.V. bought a new position in shares of Veralto during the fourth quarter valued at approximately $8,868,000. Capital Advisors Inc. OK raised its holdings in shares of Veralto by 641.0% during the fourth quarter. Capital Advisors Inc. OK now owns 118,067 shares of the company’s stock valued at $9,712,000 after acquiring an additional 102,133 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Veralto during the fourth quarter valued at approximately $1,086,000. Northstar Asset Management LLC purchased a new stake in Veralto in the fourth quarter worth $943,000. Finally, Crestwood Advisors Group LLC purchased a new stake in Veralto in the fourth quarter worth $6,087,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Veralto Stock Up 0.1 %

Veralto stock opened at $88.89 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 one year low of $65.51 and a one year high of $92.15. The business’s fifty day moving average is $87.68 and its 200 day moving average is $79.78.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business earned $0.80 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.40%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target on the stock. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target on the stock. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target on the stock. Royal Bank of Canada upped their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

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.