Lansforsakringar Fondforvaltning AB publ Invests $8.06 Million in Veralto Co. (NYSE:VLTO)

Lansforsakringar Fondforvaltning AB publ bought a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,176 shares of the company's stock, valued at approximately $8,064,000.

A number of other hedge funds have also modified their holdings of the business. Siemens Fonds Invest GmbH increased its stake in shares of Veralto by 68.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 9,834 shares of the company's stock worth $1,002,000 after purchasing an additional 3,979 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Veralto during the 4th quarter worth approximately $24,834,000. Bernard Wealth Management Corp. purchased a new position in shares of Veralto during the 4th quarter worth approximately $30,000. Putney Financial Group LLC purchased a new position in shares of Veralto during the 4th quarter worth approximately $60,000. Finally, Mackenzie Financial Corp increased its stake in shares of Veralto by 19.9% during the 4th quarter. Mackenzie Financial Corp now owns 23,097 shares of the company's stock worth $2,352,000 after purchasing an additional 3,831 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Down 0.3%

Shares of VLTO traded down $0.32 during mid-day trading on Friday, reaching $100.92. The company had a trading volume of 3,079,272 shares, compared to its average volume of 1,475,388. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The firm has a fifty day simple moving average of $95.07 and a 200-day simple moving average of $99.53. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

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

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto's payout ratio is 12.57%.

Insider Activity at Veralto

In related news, SVP Lesley Beneteau sold 458 shares of Veralto stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president now owns 13,571 shares of the company's stock, valued at $1,368,499.64. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the sale, the senior vice president now directly owns 10,011 shares in the company, valued at $971,567.55. This trade represents a 5.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,069 shares of company stock worth $5,337,767. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Veralto Profile

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.