Mercer Global Advisors Inc. ADV Buys 3,553 Shares of Veralto Co. (NYSE:VLTO)

Mercer Global Advisors Inc. ADV grew its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,841 shares of the company's stock after acquiring an additional 3,553 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Veralto were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VLTO. Bernard Wealth Management Corp. bought a new stake in Veralto during the 4th quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Veralto during the fourth quarter worth $26,000. BankPlus Trust Department purchased a new stake in Veralto in the 4th quarter valued at $29,000. Albion Financial Group UT lifted its stake in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after acquiring an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Veralto during the 4th quarter worth $42,000. Institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VLTO shares. Stifel Nicolaus raised their price target on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a research report 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 report on Thursday, May 1st. Robert W. Baird upped their target price on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Citigroup dropped their price target on Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Northcoast Research began coverage on Veralto in a research note on Tuesday, May 6th. They issued a "buy" rating and a $110.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $110.09.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares of the company's stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 31,689 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the sale, the senior vice president now directly owns 17,434 shares in the company, valued at $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 64,578 shares of company stock worth $6,192,048. 0.36% of the stock is owned by company insiders.

Veralto Stock Performance

Veralto stock traded down $0.21 during midday trading on Friday, reaching $97.07. The stock had a trading volume of 1,428,033 shares, compared to its average volume of 1,485,609. The firm has a market capitalization of $24.06 billion, a PE ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 0.99. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm's 50-day moving average price is $94.22 and its 200 day moving average price is $99.78.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts predict that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Veralto Company 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.