Swiss National Bank Buys New Stake in Veralto Co. (NYSE:VLTO)

Swiss National Bank acquired a new stake in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 731,669 shares of the company’s stock, valued at approximately $60,187,000. Swiss National Bank owned 0.30% of Veralto at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VLTO. Factory Mutual Insurance Co. purchased a new stake in shares of Veralto during the fourth quarter worth $9,260,000. State of Michigan Retirement System acquired a new stake in Veralto in the 4th quarter valued at about $4,940,000. Asset Management One Co. Ltd. purchased a new position in Veralto in the fourth quarter worth approximately $7,944,000. Vontobel Holding Ltd. acquired a new position in shares of Veralto in the 4th quarter valued at $60,495,000. Finally, OLD National Bancorp IN purchased a new position in shares of Veralto in the 4th quarter valued at $876,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction dated Friday, April 26th. The shares were 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 directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VLTO. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective for the company. Royal Bank of Canada lifted their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Argus started coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. Citigroup raised 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Veralto Price Performance

Veralto stock opened at $95.89 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The firm’s 50-day simple moving average is $89.39 and its 200 day simple moving average is $81.18. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $96.13.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts predict that Veralto Co. will post 3.34 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Wednesday, March 27th.

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.