48,313 Shares in Veralto Co. (NYSE:VLTO) Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 48,313 shares of the company’s stock, valued at approximately $3,974,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Impax Asset Management Group plc bought a new position in Veralto during the fourth quarter valued at approximately $347,827,000. abrdn plc purchased a new position in shares of Veralto in the fourth quarter valued at $80,959,000. Vontobel Holding Ltd. bought a new stake in Veralto in the fourth quarter worth $60,495,000. DekaBank Deutsche Girozentrale bought a new stake in Veralto in the fourth quarter worth $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Veralto during the fourth quarter valued at $47,229,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on VLTO shares. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective on the stock. Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. BNP Paribas started coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Finally, Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.18.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

VLTO stock opened at $96.99 on Tuesday. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $97.24. The firm’s 50-day moving average is $89.60 and its 200 day moving average is $81.37. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Wednesday, March 27th.

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.