Tidal Investments LLC Has $3.51 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Tidal Investments LLC lifted its position in Veralto Co. (NYSE:VLTO) by 108.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,464 shares of the company’s stock after acquiring an additional 17,930 shares during the period. Tidal Investments LLC’s holdings in Veralto were worth $3,510,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Veralto by 15.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock worth $1,438,000 after buying an additional 1,889 shares during the period. David Wealth Management LLC acquired a new stake in Veralto during the 4th quarter worth approximately $1,013,000. Elo Mutual Pension Insurance Co raised its holdings in Veralto by 15.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company’s stock worth $2,570,000 after buying an additional 3,392 shares during the period. Figure 8 Investment Strategies LLC acquired a new stake in Veralto during the 4th quarter worth approximately $1,446,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company’s stock worth $302,000 after buying an additional 117 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total value of $46,184.72. Following the completion of the transaction, the senior vice president now directly owns 13,571 shares of the company’s stock, valued at approximately $1,368,499.64. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,073 shares of company stock valued at $6,442,018. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on VLTO. Stifel Nicolaus raised their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Robert W. Baird raised their target price on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Northcoast Research began coverage on shares of Veralto in a report on Tuesday, May 6th. They set a “buy” rating and a $110.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $110.09.

Veralto Price Performance

Shares of VLTO opened at $100.52 on Thursday. The stock has a market capitalization of $24.92 billion, a P/E ratio of 30.10, a P/E/G ratio of 4.24 and a beta of 0.99. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a 50 day moving average of $94.71 and a 200-day moving average of $99.67. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto’s dividend payout ratio is presently 12.57%.

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.