Zurcher Kantonalbank Zurich Cantonalbank Buys Shares of 219,439 Veralto Co. (NYSE:VLTO)

Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 219,439 shares of the company’s stock, valued at approximately $18,051,000. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Veralto at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of VLTO. Neville Rodie & Shaw Inc. bought a new stake in shares of Veralto in the 4th quarter worth approximately $1,732,000. Anchor Investment Management LLC bought a new stake in shares of Veralto in the 4th quarter worth approximately $117,000. Park National Corp OH bought a new stake in shares of Veralto in the 4th quarter worth approximately $1,243,000. M&R Capital Management Inc. bought a new stake in shares of Veralto in the 4th quarter worth approximately $70,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Veralto in the 4th quarter worth approximately $285,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VLTO shares. BMO Capital Markets started coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective for the company. 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 objective for the company. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Argus assumed coverage on shares of Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Veralto Stock Down 1.9 %

Shares of Veralto stock opened at $88.80 on Friday. 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’s fifty day simple moving average is $87.54 and its two-hundred day simple moving average is $79.72. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $92.15.

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

Veralto Announces Dividend

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 given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

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.