Tokio Marine Asset Management Co. Ltd. Acquires New Shares in Veralto Co. (NYSE:VLTO)

Tokio Marine Asset Management Co. Ltd. purchased a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,240 shares of the company’s stock, valued at approximately $431,000.

Other large investors also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto in the fourth quarter worth about $25,000. First Command Advisory Services Inc. bought a new stake in shares of Veralto in the fourth quarter worth about $25,000. Blue Trust Inc. acquired a new position in shares of Veralto during the fourth quarter worth about $26,000. Dougherty Wealth Advisers LLC acquired a new position in shares of Veralto during the fourth quarter worth about $27,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Veralto during the fourth quarter worth about $27,000. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Royal Bank of Canada upped their price objective on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. The Goldman Sachs Group assumed 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. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup increased their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.18.

Veralto Stock Up 0.4 %

Shares of NYSE VLTO opened at $94.12 on Monday. The stock has a 50 day moving average price of $88.53 and a 200 day moving average price of $80.44. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $95.40. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO) last released 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 analyst estimates of $1.23 billion. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts forecast 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 given a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.