20,897 Shares in Veralto Co. (NYSE:VLTO) Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,897 shares of the company’s stock, valued at approximately $1,719,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new stake in Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new stake in Veralto in the 4th quarter valued at about $26,000. Dougherty Wealth Advisers LLC purchased a new stake in Veralto in the 4th quarter valued at about $27,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Veralto in the 4th quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. purchased a new stake in Veralto in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target for the company. BNP Paribas assumed coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Veralto Stock Performance

NYSE VLTO opened at $92.40 on Thursday. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $95.40. The business has a 50 day moving average price of $88.23 and a two-hundred day moving average price of $80.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.