Raiffeisen Bank International AG Makes New Investment in Veralto Co. (NYSE:VLTO)

Raiffeisen Bank International AG acquired a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,742 shares of the company’s stock, valued at approximately $382,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in Veralto by 43.8% during the 3rd quarter. Barclays PLC now owns 729,081 shares of the company’s stock valued at $81,556,000 after buying an additional 222,076 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Veralto by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock worth $273,906,000 after purchasing an additional 314,412 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Veralto by 15.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock worth $1,438,000 after purchasing an additional 1,889 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after purchasing an additional 2,676 shares during the period. Finally, Avanza Fonder AB bought a new position in Veralto during the 4th quarter valued at approximately $2,192,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $101.67 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a 50-day simple moving average of $94.40 and a two-hundred day simple moving average of $99.66. The firm has a market capitalization of $25.20 billion, a PE ratio of 30.44, a P/E/G ratio of 4.24 and a beta of 0.99. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00.

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

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s payout ratio is 12.57%.

Analyst Upgrades and Downgrades

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

Insider Activity at Veralto

In other Veralto news, SVP Lesley Beneteau sold 458 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was 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 in the company, valued at $1,368,499.64. This represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the sale, the senior vice president now directly owns 17,434 shares of the company’s stock, valued at approximately $1,633,042.78. This trade represents a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,073 shares of company stock worth $6,442,018. 0.36% of the stock is owned by corporate insiders.

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.