Maryland State Retirement & Pension System Buys New Shares in Veralto Co. (NYSE:VLTO)

Maryland State Retirement & Pension System purchased a new position in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,898 shares of the company’s stock, valued at approximately $1,390,000.

Several other institutional investors also recently modified their holdings of VLTO. Impax Asset Management Group plc acquired a new position in shares of Veralto in the 4th quarter worth $347,827,000. Fisher Asset Management LLC acquired a new position in shares of Veralto in the fourth quarter worth about $93,845,000. abrdn plc purchased a new position in shares of Veralto in the fourth quarter worth approximately $80,959,000. Vontobel Holding Ltd. acquired a new stake in shares of Veralto during the fourth quarter valued at approximately $60,495,000. Finally, Swiss National Bank purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $60,187,000. Institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective for the company. Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. BMO Capital Markets raised their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Citigroup upped their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. Also, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, 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.

Veralto Stock Performance

Shares of VLTO opened at $96.73 on Thursday. The company’s fifty day moving average is $89.97 and its 200-day moving average is $81.67. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $97.39.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.37%.

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.