DekaBank Deutsche Girozentrale Purchases 86,749 Shares of Veralto Co. (NYSE:VLTO)

DekaBank Deutsche Girozentrale lifted its holdings in Veralto Co. (NYSE:VLTO) by 11.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 814,194 shares of the company’s stock after acquiring an additional 86,749 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Veralto were worth $72,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of VLTO. SG Americas Securities LLC purchased a new stake in Veralto during the fourth quarter worth about $729,000. Assenagon Asset Management S.A. purchased a new stake in shares of Veralto during the 4th quarter worth approximately $965,000. Blue Trust Inc. bought a new stake in shares of Veralto in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC lifted its stake in Veralto by 63.6% in the fourth quarter. Global Retirement Partners LLC now owns 3,843 shares of the company’s stock valued at $316,000 after purchasing an additional 1,494 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Veralto in the fourth quarter valued at approximately $1,948,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VLTO shares. Robert W. Baird raised their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their price target on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Veralto presently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction 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 in the company, valued at $3,417,437.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jennifer Honeycutt 13,191 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred 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 owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The disclosure for this sale can be found here. Insiders sold a total of 4,055 shares of company stock worth $428,345 over the last three months. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Shares of Veralto stock traded down $1.86 during trading on Friday, hitting $104.84. The stock had a trading volume of 1,698,801 shares, compared to its average volume of 1,388,023. The company has a current ratio of 1.96, a quick ratio of 1.56 and a debt-to-equity ratio of 1.56. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $107.86. The firm has a market cap of $25.91 billion and a price-to-earnings ratio of 32.24. The business’s 50-day moving average is $99.58 and its 200 day moving average is $92.03.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. As a group, sell-side analysts anticipate that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, June 28th.

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.