Natixis Purchases New Stake in Veralto Co. (NYSE:VLTO)

Natixis purchased a new stake in Veralto Co. (NYSE:VLTO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,166 shares of the company’s stock, valued at approximately $192,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in shares of Veralto by 3.2% during the first quarter. Global Retirement Partners LLC now owns 3,966 shares of the company’s stock worth $352,000 after purchasing an additional 123 shares during the period. Perkins Coie Trust Co raised its holdings in shares of Veralto by 2.7% during the first quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after purchasing an additional 185 shares during the period. Czech National Bank raised its holdings in shares of Veralto by 0.5% during the first quarter. Czech National Bank now owns 38,585 shares of the company’s stock worth $3,421,000 after purchasing an additional 192 shares during the period. Equitable Trust Co. raised its holdings in shares of Veralto by 4.6% during the first quarter. Equitable Trust Co. now owns 4,880 shares of the company’s stock worth $433,000 after purchasing an additional 213 shares during the period. Finally, Motco raised its holdings in shares of Veralto by 53.7% during the first quarter. Motco now owns 610 shares of the company’s stock worth $54,000 after purchasing an additional 213 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

NYSE VLTO opened at $104.87 on Friday. The company has a 50 day simple moving average of $98.99 and a 200-day simple moving average of $90.99. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a market capitalization of $25.89 billion and a price-to-earnings ratio of 30.09. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $107.86.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 62.93%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Equities research analysts predict that Veralto Co. will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, June 28th.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. BMO Capital Markets upped their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. 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. Stifel Nicolaus raised their price objective on shares of Veralto from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, TD Cowen initiated coverage on shares of Veralto in a research report on Monday, June 17th. They set a “hold” rating and a $95.00 price objective for the company. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.08.

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.