Mirae Asset Global Investments Co. Ltd. Takes $3.06 Million Position in Veralto Co. (NYSE:VLTO)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,215 shares of the company’s stock, valued at approximately $3,061,000.

Several other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Veralto in the fourth quarter valued at $59,869,000. New York State Teachers Retirement System acquired a new stake in shares of Veralto in the fourth quarter valued at $19,498,000. Defender Capital LLC. acquired a new stake in shares of Veralto in the fourth quarter valued at $12,366,000. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Veralto in the fourth quarter valued at $11,531,000. Finally, Factory Mutual Insurance Co. acquired a new stake in shares of Veralto in the fourth quarter valued at $9,260,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Down 0.4 %

NYSE:VLTO opened at $90.55 on Thursday. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $92.15. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. The business’s fifty day moving average price is $87.42 and its 200 day moving average price is $79.66.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities research analysts expect that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VLTO shares. BNP Paribas started coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. BMO Capital Markets started coverage on Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 target price for the company. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Argus started coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price for the company. Finally, Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Company 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.