OFI Invest Asset Management Makes New Investment in Veralto Co. (NYSE:VLTO)

OFI Invest Asset Management bought a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 266 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC grew its stake in Veralto by 0.5% in the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after acquiring an additional 98 shares during the period. Brown Brothers Harriman & Co. grew its stake in Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after acquiring an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares during the period. Allworth Financial LP grew its stake in Veralto by 19.4% in the 4th quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after acquiring an additional 101 shares during the period. Finally, Insigneo Advisory Services LLC grew its stake in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after acquiring an additional 103 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup lowered their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Veralto has a consensus rating of “Hold” and an average target price of $112.55.

Veralto Stock Down 3.2 %

Shares of Veralto stock opened at $97.07 on Wednesday. The company has a fifty day moving average price of $100.56 and a 200 day moving average price of $105.13. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a twelve month low of $85.90 and a twelve month high of $115.00. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Equities research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio is currently 13.17%.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock worth $1,150,366 in the last quarter. 0.31% of the stock is owned by corporate insiders.

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.