CIBC Asset Management Inc Buys 847 Shares of Veralto Co. (NYSE:VLTO)

CIBC Asset Management Inc boosted its stake in Veralto Co. (NYSE:VLTO) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,811 shares of the company’s stock after acquiring an additional 847 shares during the period. CIBC Asset Management Inc’s holdings in Veralto were worth $3,851,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. PEAK6 Investments LLC increased its stake in shares of Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares in the last quarter. Nordea Investment Management AB grew its stake in Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC grew its stake in Veralto by 18.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after acquiring an additional 2,676 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after acquiring an additional 15,048 shares in the last quarter. Finally, Czech National Bank grew its stake in Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after acquiring an additional 3,284 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.0 %

Shares of VLTO opened at $97.72 on Friday. The firm has a market cap of $24.17 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 4.25 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a fifty-two week low of $83.34 and a fifty-two week high of $115.00. The firm has a 50 day moving average price of $101.70 and a 200-day moving average price of $105.99.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, equities research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is presently 13.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VLTO. Royal Bank of Canada reduced their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Company 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.