California Public Employees Retirement System Takes Position in Veralto Co. (NYSE:VLTO)

California Public Employees Retirement System purchased a new stake in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 389,662 shares of the company’s stock, valued at approximately $32,054,000. California Public Employees Retirement System owned approximately 0.16% of Veralto at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLTO. Factory Mutual Insurance Co. purchased a new stake in Veralto during the fourth quarter valued at $9,260,000. State of Michigan Retirement System purchased a new stake in Veralto during the fourth quarter valued at $4,940,000. Asset Management One Co. Ltd. purchased a new stake in Veralto during the fourth quarter valued at $7,944,000. Vontobel Holding Ltd. purchased a new stake in Veralto during the fourth quarter valued at $60,495,000. Finally, OLD National Bancorp IN purchased a new stake in Veralto during the fourth quarter valued at $876,000. 91.28% of the stock is owned by institutional investors.

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 stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on VLTO. The Goldman Sachs Group began coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 price objective for the company. Robert W. Baird upped their price objective on Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday. Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective for the company. BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BNP Paribas initiated coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price target for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.18.

Veralto Stock Performance

NYSE VLTO opened at $94.12 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $88.53 and a 200-day moving average price of $80.40. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.40.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts predict that Veralto Co. will post 3.34 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

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.