Quantbot Technologies LP Acquires Shares of 89,987 Veralto Co. (NYSE:VLTO)

Quantbot Technologies LP acquired a new stake in Veralto Co. (NYSE:VLTO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 89,987 shares of the company’s stock, valued at approximately $7,978,000. Veralto comprises 0.4% of Quantbot Technologies LP’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of Veralto during the fourth quarter worth approximately $2,127,330,000. Capital International Investors purchased a new stake in shares of Veralto during the fourth quarter worth approximately $538,324,000. Brown Advisory Inc. purchased a new stake in shares of Veralto during the fourth quarter worth approximately $528,018,000. Impax Asset Management Group plc purchased a new stake in shares of Veralto during the fourth quarter worth approximately $347,827,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Veralto by 18.4% during the first quarter. Bank of New York Mellon Corp now owns 3,978,120 shares of the company’s stock worth $352,700,000 after purchasing an additional 617,441 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of several research reports. Citigroup upped their target price on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 target price on shares of Veralto in a report on Friday, June 14th. Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price on the stock. Finally, BMO Capital Markets upped their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Veralto Trading Up 1.7 %

Shares of NYSE:VLTO traded up $1.66 during mid-day trading on Friday, hitting $98.76. 1,050,142 shares of the company traded hands, compared to its average volume of 1,598,194. 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 52-week low of $65.51 and a 52-week high of $102.58. The firm’s 50 day simple moving average is $98.45 and its 200 day simple moving average is $89.53.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that Veralto Co. will post 3.37 EPS for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.36%.

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.