Allianz SE Buys Shares of 713 Veralto Co. (NYSE:VLTO)

Allianz SE purchased a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 713 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds have also recently made changes to their positions in VLTO. Norges Bank purchased a new position in Veralto in the fourth quarter worth about $289,028,000. Nordea Investment Management AB increased its position in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares in the last quarter. State Street Corp raised its stake in shares of Veralto by 9.8% in the third 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 period. Principal Financial Group Inc. lifted its position in shares of Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after buying an additional 757,389 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after acquiring an additional 558,393 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Royal Bank of Canada lowered their target price 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. Stifel Nicolaus lowered their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.50.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,881 shares of company stock valued at $2,176,770 over the last ninety days. 0.31% of the stock is owned by insiders.

Veralto Stock Up 1.6 %

Shares of VLTO opened at $97.57 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The business’s 50 day simple moving average is $99.37 and its 200-day simple moving average is $103.85.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

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.