KLP Kapitalforvaltning AS Acquires New Shares in Veralto Co. (NYSE:VLTO)

KLP Kapitalforvaltning AS bought a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 98,449 shares of the company’s stock, valued at approximately $10,036,000.

Several other institutional investors also recently bought and sold shares of VLTO. OFI Invest Asset Management acquired a new position in shares of Veralto during the 4th quarter valued at about $26,000. BankPlus Trust Department bought a new stake in Veralto during the fourth quarter worth approximately $29,000. Albion Financial Group UT grew its holdings in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Veralto in the fourth quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after buying an additional 109 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on VLTO. 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 target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Citigroup cut their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. 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 presently has an average rating of “Hold” and an average target price of $113.50.

Veralto Price Performance

Shares of VLTO stock opened at $98.27 on Tuesday. The company has a market capitalization of $24.33 billion, a P/E ratio of 29.42, a P/E/G ratio of 4.24 and a beta of 1.11. 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 12 month low of $85.91 and a 12 month high of $115.00. The stock has a 50 day moving average of $99.93 and a two-hundred day moving average of $104.27.

Veralto (NYSE:VLTO) last posted 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%. As a group, equities analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid 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 payout ratio is currently 13.17%.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction 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 transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock valued at $1,150,366 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

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.