Factory Mutual Insurance Co. Acquires Shares of 112,565 Veralto Co. (NYSE:VLTO)

Factory Mutual Insurance Co. acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 112,565 shares of the company's stock, valued at approximately $9,260,000.

Other hedge funds have also recently bought and sold shares of the company. LS Investment Advisors LLC acquired a new stake in Veralto during the 4th quarter valued at $1,660,000. City Holding Co. acquired a new stake in Veralto during the 4th quarter valued at $1,229,000. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Veralto during the 4th quarter valued at $2,738,000. Renaissance Investment Group LLC acquired a new stake in shares of Veralto during the fourth quarter worth $1,385,000. Finally, Czech National Bank acquired a new stake in shares of Veralto during the fourth quarter worth $3,158,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Down 0.7 %

Shares of NYSE VLTO traded down $0.59 during midday trading on Thursday, reaching $86.66. 1,543,259 shares of the company's stock were exchanged, compared to its average volume of 1,513,059. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $90.69. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The stock's fifty day moving average price is $85.22.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm's revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, March 27th.

Analyst Ratings Changes

Several research firms have recently issued reports on VLTO. BNP Paribas began coverage on Veralto in a report on Tuesday, March 12th. They set an "outperform" rating and a $103.00 price objective on the stock. Argus began coverage on Veralto in a report on Tuesday, January 9th. They issued a "buy" rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They issued a "hold" rating and a $79.00 target price on the stock. Wolfe Research began coverage on Veralto in a report on Wednesday, December 13th. They issued a "peer perform" rating on the stock. Finally, Royal Bank of Canada lifted their target price on Veralto from $78.00 to $91.00 and gave the company a "sector perform" rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.36.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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.