Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Shares in Veralto Co. (NYSE:VLTO)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,897 shares of the company’s stock, valued at approximately $1,719,000.

Other institutional investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new stake in Veralto during the 4th quarter worth about $25,000. Blue Trust Inc. acquired a new stake in Veralto during the 4th quarter worth about $26,000. Dougherty Wealth Advisers LLC acquired a new stake in Veralto during the 4th quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Veralto during the 4th quarter worth about $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in Veralto during the 4th quarter worth about $29,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VLTO. BMO Capital Markets began coverage on Veralto in a research note on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, Argus began coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Five equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Stock Down 1.4 %

Shares of VLTO stock opened at $92.40 on Thursday. The stock’s 50 day simple moving average is $88.23 and its 200 day simple moving average is $80.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.39%. The ex-dividend date is 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.