Tidal Investments LLC Buys 17,930 Shares of Veralto Co. (NYSE:VLTO)

Tidal Investments LLC grew its stake in Veralto Co. (NYSE:VLTO - Free Report) by 108.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,464 shares of the company's stock after purchasing an additional 17,930 shares during the period. Tidal Investments LLC's holdings in Veralto were worth $3,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Veralto by 15.5% in the 4th 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 last quarter. David Wealth Management LLC acquired a new stake in shares of Veralto during the 4th quarter valued at about $1,013,000. Elo Mutual Pension Insurance Co boosted its position in shares of Veralto by 15.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company's stock valued at $2,570,000 after acquiring an additional 3,392 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in shares of Veralto during the 4th quarter valued at about $1,446,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Veralto by 4.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company's stock valued at $302,000 after acquiring an additional 117 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Performance

Shares of VLTO stock traded up $0.46 on Tuesday, hitting $100.92. The company's stock had a trading volume of 188,849 shares, compared to its average volume of 1,461,779. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock's 50 day moving average is $94.82 and its 200-day moving average is $99.55. Veralto Co. has a fifty-two week low of $83.86 and a fifty-two week high of $115.00. The company has a market capitalization of $25.01 billion, a PE ratio of 30.21, a PEG ratio of 4.24 and a beta of 0.99.

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

Veralto Announces Dividend

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

Insider Activity

In related news, SVP Surekha Trivedi sold 590 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the transaction, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. This trade represents a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the completion of the transaction, the senior vice president now owns 17,434 shares of the company's stock, valued at approximately $1,633,042.78. This trade represents a 64.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,069 shares of company stock worth $5,337,767. Corporate insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

VLTO has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Northcoast Research initiated coverage on shares of Veralto in a report on Tuesday, May 6th. They set a "buy" rating and a $110.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $103.00 to $104.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.