California Public Employees Retirement System Makes New Investment in Veralto Co. (NYSE:VLTO)

California Public Employees Retirement System purchased a new position in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, HoldingsChannel reports. The fund purchased 389,662 shares of the company’s stock, valued at approximately $32,054,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLTO. Sugarloaf Wealth Management LLC purchased a new position in shares of Veralto during the 4th quarter valued at about $25,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto during the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new position in shares of Veralto during the 4th quarter valued at about $26,000. Dougherty Wealth Advisers LLC purchased a new position in shares of Veralto during the 4th quarter valued at about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Veralto during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets lifted their price target on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target for the company. Citigroup lifted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Transactions at Veralto

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

Veralto Price Performance

NYSE:VLTO opened at $94.12 on Friday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $95.40. The stock has a 50 day moving average of $88.53 and a two-hundred day moving average of $80.40. The company has a current ratio of 1.83, a quick ratio of 1.40 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

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.