Hikari Power Ltd Invests $4.41 Million in Veralto Co. (NYSE:VLTO)

Hikari Power Ltd bought 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 firm bought 53,606 shares of the company’s stock, valued at approximately $4,410,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in VLTO. Impax Asset Management Group plc bought a new stake in Veralto in the fourth quarter valued at $347,827,000. Vontobel Holding Ltd. bought a new stake in Veralto in the fourth quarter valued at $60,495,000. DekaBank Deutsche Girozentrale bought a new stake in Veralto in the fourth quarter valued at $59,869,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Veralto in the fourth quarter valued at $47,229,000. Finally, Mirova US LLC bought a new stake in Veralto in the fourth quarter valued at $32,474,000. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Shares of VLTO traded up $1.03 during trading hours on Wednesday, hitting $90.89. The company had a trading volume of 2,097,883 shares, compared to its average volume of 1,481,295. The firm has a fifty day moving average price of $87.23 and a 200-day moving average price of $79.58. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $91.37.

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

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. BNP Paribas initiated 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Finally, Argus initiated coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.