Mirae Asset Global Investments Co. Ltd. Invests $3.06 Million in Veralto Co. (NYSE:VLTO)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,215 shares of the company's stock, valued at approximately $3,061,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sugarloaf Wealth Management LLC bought a new stake in shares of Veralto in the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new stake in Veralto during the fourth quarter worth $26,000. Dougherty Wealth Advisers LLC bought a new stake in Veralto during the 4th quarter valued at $27,000. Gradient Investments LLC increased its holdings in shares of Veralto by 2,678.6% in the 4th quarter. Gradient Investments LLC now owns 389 shares of the company's stock valued at $32,000 after acquiring an additional 375 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Veralto in the 4th quarter valued at $35,000. Institutional investors own 91.28% of the company's stock.

Veralto Stock Down 1.9 %

Shares of NYSE VLTO traded down $1.75 during mid-day trading on Thursday, hitting $88.80. The stock had a trading volume of 2,378,063 shares, compared to its average volume of 1,534,173. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. The company has a 50 day moving average of $87.42 and a two-hundred day moving average of $79.66. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $92.15.

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 analysts' consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on VLTO. Argus started coverage on Veralto in a research report on Tuesday, January 9th. They set a "buy" rating and a $90.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a "buy" rating and a $104.00 price objective on the stock. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. BNP Paribas began coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.36.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company's stock, valued at $2,609,691. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company's stock.

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.