Perpetual Ltd Invests $5.79 Million in Veralto Co. (NYSE:VLTO)

Perpetual Ltd acquired a new position in Veralto Co. (NYSE:VLTO) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 65,352 shares of the company’s stock, valued at approximately $5,794,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Veralto in the 4th quarter worth $2,127,330,000. Capital International Investors bought a new stake in shares of Veralto in the 4th quarter worth $538,324,000. Brown Advisory Inc. bought a new stake in shares of Veralto in the 4th quarter worth $528,018,000. Impax Asset Management Group plc bought a new stake in shares of Veralto in the 4th quarter worth $347,827,000. Finally, Norges Bank acquired a new stake in shares of Veralto during the fourth quarter worth $266,143,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 0.9 %

Shares of VLTO traded down $0.95 during trading hours on Thursday, hitting $100.27. 1,734,440 shares of the company were exchanged, compared to its average volume of 1,548,202. The firm’s 50 day moving average is $96.78 and its 200-day moving average is $87.54. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $102.58. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83.

Veralto (NYSE:VLTO) last released its quarterly earnings results 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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Veralto Co. will post 3.34 EPS for the current year.

Veralto Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VLTO shares. BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Citigroup boosted their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their target price on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. TD Cowen began coverage on Veralto in a research note on Monday. They issued a “hold” rating and a $95.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Six investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.