Ninety One UK Ltd Acquires New Stake in Veralto Co. (NYSE:VLTO)

Ninety One UK Ltd acquired a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,434 shares of the company’s stock, valued at approximately $1,352,000.

Several other hedge funds have also recently added to or reduced their stakes in VLTO. Impax Asset Management Group plc purchased a new position in Veralto during the 4th quarter worth approximately $347,827,000. Vontobel Holding Ltd. purchased a new position in Veralto during the 4th quarter worth approximately $60,495,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Veralto during the 4th quarter valued at $59,869,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Veralto during the 4th quarter valued at $47,229,000. Finally, Federated Hermes Inc. boosted its stake in shares of Veralto by 336.7% during the 4th quarter. Federated Hermes Inc. now owns 447,638 shares of the company’s stock valued at $36,823,000 after buying an additional 345,138 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an “outperform” rating and a $97.00 target price for the company. Argus initiated coverage on shares of Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price for the company. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.36.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Veralto Trading Down 1.9 %

NYSE VLTO opened at $88.80 on Friday. The company’s 50-day simple moving average is $87.54 and its 200 day simple moving average is $79.72. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $92.15. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

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

Veralto Dividend Announcement

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

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.