Allspring Global Investments Holdings LLC Takes Position in Veralto Co. (NYSE:VLTO)

Allspring Global Investments Holdings LLC acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,272 shares of the company’s stock, valued at approximately $1,009,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in Veralto during the fourth quarter worth approximately $59,869,000. New York State Teachers Retirement System purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $19,498,000. Defender Capital LLC. purchased a new stake in Veralto in the 4th quarter worth approximately $12,366,000. Chevy Chase Trust Holdings LLC purchased a new stake in Veralto in the 4th quarter worth approximately $11,531,000. Finally, Factory Mutual Insurance Co. purchased a new stake in Veralto in the 4th quarter worth approximately $9,260,000. 91.28% of the stock is currently owned by institutional investors.

Insider Transactions at Veralto

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

Veralto Trading Up 2.8 %

Shares of VLTO opened at $93.75 on Wednesday. Veralto Co. has a one year low of $65.51 and a one year high of $93.85. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The company’s fifty day moving average price is $88.06 and its 200 day moving average price is $80.05.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. Equities research analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. Finally, Argus started coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Company 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.