Panagora Asset Management Inc. Takes Position in Veralto Co. (NYSE:VLTO)

Panagora Asset Management Inc. purchased a new stake in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,155 shares of the company’s stock, valued at approximately $342,000.

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

Veralto Stock Performance

VLTO stock opened at $102.19 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $102.31. The stock has a fifty day moving average of $92.46 and a 200-day moving average of $83.99.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Veralto Co. will post 3.34 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VLTO shares. Royal Bank of Canada raised their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. BMO Capital Markets raised their target price on Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. The Goldman Sachs Group started coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price for the company. BNP Paribas started coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Finally, Stifel Nicolaus raised their target price on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and an average target price of $95.18.

Insider Activity

In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Corporate 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.