219,439 Shares in Veralto Co. (NYSE:VLTO) Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 219,439 shares of the company’s stock, valued at approximately $18,051,000.

A number of other institutional investors also recently bought and sold shares of the stock. Impax Asset Management Group plc bought a new stake in shares of Veralto during the fourth quarter worth $347,827,000. Vontobel Holding Ltd. bought a new stake in shares of Veralto during the fourth quarter worth $60,495,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Veralto during the fourth quarter worth $59,869,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Veralto during the fourth quarter worth $47,229,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Veralto during the fourth quarter worth $19,498,000. 91.28% of the stock is currently owned by institutional investors.

Insider Transactions at Veralto

In other 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 transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on VLTO shares. BMO Capital Markets started coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 target price for the company. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Argus started coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research note on Wednesday, January 10th. They set a “hold” rating and a $79.00 price target on the stock. Finally, BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Veralto Trading Down 1.9 %

VLTO opened at $88.80 on Friday. The business’s 50-day moving average is $87.54 and its two-hundred day moving average is $79.72. Veralto Co. has a 1 year low of $65.51 and a 1 year high of $92.15. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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. During the same quarter last year, the firm earned $0.80 EPS. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Veralto Co. will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.41%.

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.