Veralto Co. (NYSE:VLTO) Shares Acquired by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd lifted its stake in Veralto Co. (NYSE:VLTO) by 497.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 314,180 shares of the company’s stock after purchasing an additional 261,623 shares during the quarter. Border to Coast Pensions Partnership Ltd owned about 0.13% of Veralto worth $31,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares during the period. State Street Corp increased its stake in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Principal Financial Group Inc. raised its position in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the period. Geode Capital Management LLC lifted its stake in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Veralto by 29.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock worth $208,511,000 after purchasing an additional 418,588 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of Veralto stock opened at $104.05 on Friday. The business has a 50-day simple moving average of $104.13 and a 200-day simple moving average of $105.72. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto Co. has a one year low of $74.27 and a one year high of $115.00. The company has a market cap of $25.73 billion, a PE ratio of 32.11, a P/E/G ratio of 3.88 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.42%. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citigroup dropped their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.27.

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.