Veralto Co. (NYSE:VLTO) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Veralto Co. (NYSE:VLTO) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,031 shares of the company’s stock after buying an additional 10,052 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.17% of Veralto worth $41,965,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VLTO. PEAK6 Investments LLC grew its stake in shares of Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after buying an additional 2,676 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Veralto by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after buying an additional 15,048 shares during the period. Finally, Czech National Bank lifted its holdings in shares of Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock valued at $1,150,366 in the last three months. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VLTO. Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Royal Bank of Canada decreased their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup decreased their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.55.

Veralto Stock Up 0.3 %

VLTO opened at $100.40 on Tuesday. Veralto Co. has a fifty-two week low of $85.90 and a fifty-two week high of $115.00. The business has a 50-day moving average of $100.66 and a 200-day moving average of $105.23. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The company has a market capitalization of $24.85 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio is currently 13.17%.

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.