Jupiter Asset Management Ltd. Purchases 42,305 Shares of Veralto Co. (NYSE:VLTO)

Jupiter Asset Management Ltd. boosted its position in Veralto Co. (NYSE:VLTO) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 299,990 shares of the company’s stock after acquiring an additional 42,305 shares during the period. Jupiter Asset Management Ltd.’s holdings in Veralto were worth $30,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PEAK6 Investments LLC boosted its holdings in Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after acquiring an additional 6,211 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after acquiring an additional 2,676 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Veralto by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after acquiring an additional 15,048 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after acquiring an additional 3,284 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.55.

Veralto Stock Performance

Shares of VLTO opened at $97.07 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $100.56 and a 200 day moving average of $105.13. Veralto Co. has a 12 month low of $85.90 and a 12 month high of $115.00. The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is 13.17%.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,467 shares of company stock valued at $1,150,366. Company 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.