Nuveen Asset Management LLC Buys 342,250 Shares of Veralto Co. (NYSE:VLTO)

Nuveen Asset Management LLC grew its position in Veralto Co. (NYSE:VLTO - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,889,935 shares of the company's stock after purchasing an additional 342,250 shares during the period. Nuveen Asset Management LLC owned about 0.76% of Veralto worth $192,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after buying an additional 2,676 shares in the last quarter. Czech National Bank lifted 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Veralto by 15.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock worth $1,438,000 after buying an additional 1,889 shares during the last quarter. David Wealth Management LLC acquired a new position in Veralto during the fourth quarter worth approximately $1,013,000. Finally, Border to Coast Pensions Partnership Ltd increased its stake in shares of Veralto by 497.8% during 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 owned by institutional investors.

Veralto Price Performance

Shares of VLTO traded down $0.83 during trading hours on Wednesday, reaching $101.19. The stock had a trading volume of 235,865 shares, compared to its average volume of 1,474,484. The company's 50-day moving average is $94.66 and its two-hundred day moving average is $99.66. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The stock has a market capitalization of $25.08 billion, a PE ratio of 30.30, a PEG ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto's payout ratio is currently 12.57%.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of recent research reports. Northcoast Research started coverage on shares of Veralto in a research report on Tuesday, May 6th. They issued a "buy" rating and a $110.00 target price for the company. Stifel Nicolaus boosted their price objective on shares of Veralto from $102.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada increased 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. Citigroup dropped their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird boosted their price target on Veralto from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $110.09.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 8,470 shares of the company's stock, valued at $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president now directly owns 13,571 shares in the company, valued at $1,368,499.64. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,073 shares of company stock valued at $6,442,018. Corporate insiders own 0.36% of the company's stock.

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.