DnB Asset Management AS Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

DnB Asset Management AS lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,170 shares of the company’s stock after acquiring an additional 8,464 shares during the quarter. DnB Asset Management AS’s holdings in Veralto were worth $8,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Veralto by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock worth $2,989,011,000 after purchasing an additional 146,234 shares during the last quarter. State Street Corp grew its stake in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after buying an additional 860,608 shares during the last quarter. Amundi increased its position in Veralto by 2.3% during the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after buying an additional 158,342 shares in the last quarter. Geode Capital Management LLC raised its stake in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after buying an additional 558,393 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock worth $485,304,000 after acquiring an additional 54,795 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,881 shares of company stock worth $2,176,770 in the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada cut their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their price objective 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. Finally, Stifel Nicolaus cut their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and an average price target of $113.50.

Veralto Trading Down 2.0 %

NYSE VLTO opened at $95.97 on Friday. The company has a fifty day moving average of $99.48 and a 200 day moving average of $103.97. The company has a market capitalization of $23.76 billion, a PE ratio of 28.73, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is 13.17%.

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.