Mirae Asset Global Investments Co. Ltd. Purchases 7,212 Shares of Veralto Corporation $VLTO

Mirae Asset Global Investments Co. Ltd. grew its stake in Veralto Corporation (NYSE:VLTO) by 18.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,383 shares of the company’s stock after buying an additional 7,212 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Veralto were worth $5,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Veralto by 16.1% in the fourth quarter. Brighton Jones LLC now owns 3,459 shares of the company’s stock worth $352,000 after acquiring an additional 479 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Veralto by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,947 shares of the company’s stock worth $2,529,000 after purchasing an additional 1,306 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Veralto by 20.4% during the 1st quarter. Empowered Funds LLC now owns 4,551 shares of the company’s stock valued at $443,000 after acquiring an additional 770 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Veralto by 102.4% in the first quarter. Geneos Wealth Management Inc. now owns 832 shares of the company’s stock worth $81,000 after buying an additional 421 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Veralto in the 2nd quarter worth approximately $201,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 1,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.73, for a total value of $101,730.00. Following the completion of the transaction, the senior vice president directly owned 31,430 shares in the company, valued at $3,197,373.90. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.36% of the stock is currently owned by company insiders.

Veralto Stock Up 0.2%

VLTO stock opened at $98.89 on Monday. Veralto Corporation has a one year low of $83.86 and a one year high of $110.11. The company has a 50 day moving average price of $100.88 and a two-hundred day moving average price of $103.03. The stock has a market capitalization of $24.55 billion, a P/E ratio of 27.09, a PEG ratio of 2.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.40 and a current ratio of 1.57.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Veralto’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, December 31st. Veralto’s dividend payout ratio is currently 14.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Barclays lifted their target price on Veralto from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings cut Veralto from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 target price (down previously from $125.00) on shares of Veralto in a report on Wednesday, December 10th. Finally, BMO Capital Markets lowered their price target on Veralto from $123.00 to $114.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.89.

Veralto 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. This segment provides water solutions, including chemical reagents, services, and digital solutions.