Fisher Asset Management LLC Makes New $93.85 Million Investment in Veralto Co. (NYSE:VLTO)

Fisher Asset Management LLC bought a new position in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,140,837 shares of the company’s stock, valued at approximately $93,845,000. Fisher Asset Management LLC owned 0.46% of Veralto at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. acquired a new position in shares of Veralto during the fourth quarter valued at $1,732,000. Anchor Investment Management LLC acquired a new position in Veralto during the fourth quarter worth about $117,000. Park National Corp OH acquired a new position in Veralto during the fourth quarter worth about $1,243,000. M&R Capital Management Inc. acquired a new position in Veralto during the fourth quarter worth about $70,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Veralto during the fourth quarter worth about $285,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of NYSE:VLTO opened at $95.89 on Friday. The business’s fifty day moving average price is $89.20 and its two-hundred day moving average price is $80.93. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $96.13. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Wednesday, March 27th.

Insider Transactions at Veralto

In other 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 owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mattias Bystrom sold 500 shares of the company’s 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 transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Royal Bank of Canada raised 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, Robert W. Baird raised their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

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.