Mirova US LLC Purchases New Stake in Veralto Co. (NYSE:VLTO)

Mirova US LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 394,768 shares of the company’s stock, valued at approximately $32,474,000. Veralto comprises approximately 0.5% of Mirova US LLC’s holdings, making the stock its 26th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in VLTO. Impax Asset Management Group plc bought a new position in shares of Veralto during the fourth quarter worth about $347,827,000. Vontobel Holding Ltd. bought a new position in shares of Veralto during the fourth quarter worth about $60,495,000. DekaBank Deutsche Girozentrale bought a new position in shares of Veralto during the fourth quarter worth about $59,869,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Veralto during the fourth quarter worth about $47,229,000. Finally, New York State Teachers Retirement System bought a new position in shares of Veralto during the fourth quarter worth about $19,498,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. The Goldman Sachs Group assumed coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 target price for the company. BNP Paribas assumed coverage on shares of Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price for the company. Argus assumed coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Veralto Stock Up 1.1 %

Shares of VLTO traded up $1.03 during trading hours on Wednesday, reaching $90.89. The company’s 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 company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. The company has a 50 day moving average of $87.23 and a two-hundred day moving average of $79.58.

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

Veralto Dividend Announcement

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

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.