Ethic Inc. Acquires 10,418 Shares of Veralto Co. (NYSE:VLTO)

Ethic Inc. boosted its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 60.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,759 shares of the company's stock after buying an additional 10,418 shares during the quarter. Ethic Inc.'s holdings in Veralto were worth $2,827,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its position in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock worth $1,755,000 after purchasing an additional 2,676 shares during the period. Czech National Bank boosted its position in shares of Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company's stock worth $5,461,000 after purchasing an additional 3,284 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Veralto by 15.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock worth $1,438,000 after purchasing an additional 1,889 shares during the period. David Wealth Management LLC bought a new position in shares of Veralto in the fourth quarter worth approximately $1,013,000. Finally, Border to Coast Pensions Partnership Ltd boosted its position in shares of Veralto by 497.8% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 314,180 shares of the company's stock worth $31,978,000 after purchasing an additional 261,623 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 0.2%

Shares of VLTO opened at $97.07 on Monday. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The company has a market cap of $24.06 billion, a P/E ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 0.99. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company's fifty day simple moving average is $94.22 and its 200-day simple moving average is $99.74.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, March 31st. Veralto's dividend payout ratio is currently 12.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VLTO. Northcoast Research began coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price target for the company. Robert W. Baird upped their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Royal Bank of Canada boosted their target price on shares of Veralto from $103.00 to $104.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Stifel Nicolaus boosted their target price on shares of Veralto from $102.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Citigroup lowered their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Veralto has a consensus rating of "Hold" and an average target price of $110.09.

Insider Activity

In other news, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,578 shares of company stock valued at $6,192,048. 0.36% of the stock is currently owned by company insiders.

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.

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