Vontobel Holding Ltd. Invests $60.50 Million in Veralto Co. (NYSE:VLTO)

Vontobel Holding Ltd. acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 735,414 shares of the company's stock, valued at approximately $60,495,000. Vontobel Holding Ltd. owned approximately 0.30% of Veralto at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto during the fourth quarter worth approximately $25,000. Blue Trust Inc. bought a new stake in shares of Veralto during the fourth quarter worth approximately $26,000. Dougherty Wealth Advisers LLC bought a new stake in shares of Veralto during the fourth quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Veralto during the fourth quarter worth approximately $29,000. Finally, Gradient Investments LLC boosted its holdings in shares of Veralto by 2,678.6% during the fourth quarter. Gradient Investments LLC now owns 389 shares of the company's stock worth $32,000 after acquiring an additional 375 shares during the period. Institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

VLTO traded down $0.04 during trading on Friday, reaching $87.37. 1,299,009 shares of the stock traded hands, compared to its average volume of 1,695,091. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The company has a 50-day simple moving average of $86.68. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $90.69.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $0.80 EPS. Veralto's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts predict that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.41%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They set a "buy" rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a "hold" rating and a $79.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a "sector perform" rating in a research report on Thursday, February 8th. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lowered their price target on shares of Veralto from $83.00 to $82.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.

About Veralto

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.