Veralto Co. (NYSE:VLTO) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS raised its holdings in shares of Veralto Co. (NYSE:VLTO) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,889 shares of the company’s stock after purchasing an additional 6,568 shares during the quarter. DNB Asset Management AS’s holdings in Veralto were worth $6,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLTO. Assenagon Asset Management S.A. bought a new stake in Veralto during the fourth quarter valued at $965,000. Blue Trust Inc. acquired a new stake in Veralto during the fourth quarter worth about $26,000. State of Alaska Department of Revenue bought a new position in Veralto in the fourth quarter worth about $1,948,000. DAVENPORT & Co LLC acquired a new position in Veralto in the fourth quarter valued at approximately $686,000. Finally, Hartford Investment Management Co. acquired a new position in Veralto in the fourth quarter valued at approximately $1,199,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. Insiders have sold a total of 4,055 shares of company stock valued at $428,345 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VLTO. TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup upped their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Veralto Price Performance

Shares of VLTO traded up $2.13 during midday trading on Tuesday, reaching $104.12. The stock had a trading volume of 1,611,937 shares, compared to its average volume of 1,588,440. The firm’s 50 day moving average price is $99.57 and its 200-day moving average price is $92.45. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $107.86. The company has a market capitalization of $25.73 billion and a P/E ratio of 31.67. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, analysts forecast that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, June 28th.

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.