311,608 Shares in Veralto Co. (NYSE:VLTO) Bought by Wells Fargo & Company MN

Wells Fargo & Company MN purchased a new stake in Veralto Co. (NYSE:VLTOFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 311,608 shares of the company’s stock, valued at approximately $25,633,000. Wells Fargo & Company MN owned approximately 0.13% of Veralto at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Factory Mutual Insurance Co. purchased a new stake in Veralto in the fourth quarter valued at approximately $9,260,000. State of Michigan Retirement System acquired a new stake in Veralto during the 4th quarter worth $4,940,000. Dimensional Fund Advisors LP purchased a new position in Veralto during the 4th quarter worth $79,075,000. Vontobel Holding Ltd. acquired a new position in Veralto in the fourth quarter valued at $60,495,000. Finally, OLD National Bancorp IN acquired a new position in Veralto in the fourth quarter valued at $876,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, Citigroup boosted their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Check Out Our Latest Analysis on VLTO

Veralto Stock Performance

Shares of VLTO opened at $100.67 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $102.58. The company has a 50-day simple moving average of $93.03 and a 200-day simple moving average of $84.63.

Veralto (NYSE:VLTOGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (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 analyst estimates of $1.23 billion. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, June 28th.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now directly owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Melissa Aquino sold 8,041 shares of the company’s 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 sale, the senior vice president now owns 20,761 shares of the company’s stock, 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.

About Veralto

(Free Report)

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.

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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