Avanza Fonder AB Acquires New Holdings in Veralto Co. (NYSE:VLTO)

Avanza Fonder AB bought a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 21,526 shares of the company’s stock, valued at approximately $2,192,000.

A number of other institutional investors have also recently bought and sold shares of VLTO. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter worth about $25,000. Goodman Advisory Group LLC acquired a new position in shares of Veralto during the second quarter worth about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto during the second quarter worth about $30,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Veralto in the 3rd quarter valued at approximately $46,000. Institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Down 1.0 %

VLTO stock opened at $102.98 on Friday. Veralto Co. has a fifty-two week low of $75.03 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 3.88 and a beta of 1.06. The business’s fifty day moving average price is $104.07 and its two-hundred day moving average price is $105.84.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is currently 13.58%.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of recent research reports. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Stifel Nicolaus decreased their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada raised their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.27.

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.