OVERSEA CHINESE BANKING Corp Ltd Purchases New Shares in Veralto Co. (NYSE:VLTO)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 373,131 shares of the company's stock, valued at approximately $30,694,000. Veralto comprises about 1.1% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 26th largest position. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.15% of Veralto at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Impax Asset Management Group plc bought a new position in shares of Veralto during the fourth quarter valued at about $347,827,000. abrdn plc bought a new position in shares of Veralto during the fourth quarter valued at about $80,959,000. Vontobel Holding Ltd. bought a new position in shares of Veralto during the fourth quarter valued at about $60,495,000. DekaBank Deutsche Girozentrale bought a new position in shares of Veralto during the fourth quarter valued at about $59,869,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Veralto during the fourth quarter valued at about $47,229,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Up 0.1 %

VLTO stock traded up $0.09 on Friday, hitting $88.89. The company had a trading volume of 5,196,762 shares, compared to its average volume of 1,559,998. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $92.15. 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 stock's 50-day simple moving average is $87.68 and its 200 day simple moving average is $79.80.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The firm's revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given 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 0.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an "outperform" rating and a $103.00 price target for the company. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an "outperform" rating and a $97.00 price target for the company. Royal Bank of Canada increased their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 8th. Argus started coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a "buy" rating and a $90.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on shares of Veralto from $92.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.36.

Insider Activity

In other 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 sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% 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.