Raiffeisen Bank International AG Invests $382,000 in Veralto Co. (NYSE:VLTO)

Raiffeisen Bank International AG bought a new stake in Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,742 shares of the company’s stock, valued at approximately $382,000.

Several other large investors also recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in shares of Veralto in the 4th quarter worth about $25,000. OFI Invest Asset Management purchased a new position in Veralto in the fourth quarter worth about $26,000. BankPlus Trust Department bought a new stake in Veralto during the fourth quarter worth approximately $29,000. Albion Financial Group UT increased its stake in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 336 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto during the fourth quarter valued at approximately $42,000. Institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VLTO. Robert W. Baird lifted their target price on Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada increased their target price on shares of Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Northcoast Research started coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $110.09.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lesley Beneteau sold 458 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the transaction, the senior vice president now owns 13,571 shares in the company, valued at approximately $1,368,499.64. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,073 shares of company stock worth $6,442,018. 0.36% of the stock is currently owned by company insiders.

Veralto Trading Up 0.7%

VLTO stock opened at $101.67 on Friday. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00. The firm’s 50-day moving average is $94.40 and its 200 day moving average is $99.66. The company has a market capitalization of $25.20 billion, a PE ratio of 30.44, a P/E/G ratio of 4.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 16.04% and a return on equity of 49.29%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, research analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Veralto’s dividend payout ratio (DPR) is presently 12.57%.

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.