Nordea Investment Management AB Purchases 1,009,170 Shares of Veralto Co. (NYSE:VLTO)

Nordea Investment Management AB grew its holdings in Veralto Co. (NYSE:VLTO) by 34.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,923,747 shares of the company’s stock after buying an additional 1,009,170 shares during the quarter. Nordea Investment Management AB’s holdings in Veralto were worth $400,928,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto in the third quarter worth about $25,000. Goodman Advisory Group LLC purchased a new position in Veralto during the second quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in Veralto in the second quarter valued at approximately $30,000. Raleigh Capital Management Inc. grew its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after buying an additional 333 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 0.2 %

VLTO stock opened at $100.80 on Monday. Veralto Co. has a 1-year low of $73.91 and a 1-year high of $115.00. The firm has a market cap of $24.93 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.30 and a beta of 1.06. The business’s 50 day moving average is $104.35 and its 200-day moving average is $105.56. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VLTO shares. Stifel Nicolaus decreased their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. BMO Capital Markets upped their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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.