Mirova US LLC Takes $32.47 Million Position in Veralto Co. (NYSE:VLTO)

Mirova US LLC purchased a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 394,768 shares of the company’s stock, valued at approximately $32,474,000. Veralto accounts for approximately 0.5% of Mirova US LLC’s holdings, making the stock its 26th largest position. Mirova US LLC owned 0.16% of Veralto as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fishman Jay A Ltd. MI lifted its holdings in shares of Veralto by 6.0% in the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock worth $343,000 after acquiring an additional 238 shares during the last quarter. Sugarloaf Wealth Management LLC acquired a new position in shares of Veralto in the 4th quarter worth approximately $25,000. Blue Trust Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $26,000. Dougherty Wealth Advisers LLC acquired a new position in shares of Veralto in the 4th quarter worth approximately $27,000. Finally, Pinnacle Bancorp Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the 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 transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Veralto Trading Up 1.1 %

Shares of NYSE:VLTO traded up $1.03 during trading hours on Wednesday, reaching $90.89. The stock had a trading volume of 2,097,883 shares, compared to its average volume of 1,481,295. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $91.37. The firm’s 50 day moving average is $87.23 and its 200-day moving average is $79.58. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts forecast that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VLTO shares. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. BMO Capital Markets started coverage on shares of Veralto in a report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 target price on the stock. BNP Paribas started coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.00.

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.