Principal Securities Inc. Takes Position in Veralto Co. (NYSE:VLTO)

Principal Securities Inc. acquired a new stake in Veralto Co. (NYSE:VLTOFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,026 shares of the company’s stock, valued at approximately $167,000.

Several other large investors also recently modified their holdings of VLTO. Factory Mutual Insurance Co. acquired a new position in shares of Veralto in the fourth quarter valued at about $9,260,000. State of Michigan Retirement System acquired a new position in shares of Veralto in the fourth quarter valued at about $4,940,000. Vontobel Holding Ltd. acquired a new position in shares of Veralto in the fourth quarter valued at about $60,495,000. OLD National Bancorp IN acquired a new position in shares of Veralto in the fourth quarter valued at about $876,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Veralto in the fourth quarter valued at about $7,944,000. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

VLTO opened at $98.60 on Friday. The company’s 50 day moving average is $91.26 and its 200-day moving average is $83.01. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $99.37. 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 (NYSE:VLTOGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.37%.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several research reports. Stifel Nicolaus upped their price target on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird increased their price objective on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, Citigroup increased their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. 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.com, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

View Our Latest Stock Analysis on VLTO

Veralto Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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