CIBC Asset Management Inc increased its stake in Veralto Corporation (NYSE:VLTO – Free Report) by 277.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 129,053 shares of the company’s stock after purchasing an additional 94,839 shares during the quarter. CIBC Asset Management Inc’s holdings in Veralto were worth $12,877,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Veralto by 2.8% during the third quarter. Vanguard Group Inc. now owns 31,058,387 shares of the company’s stock worth $3,311,135,000 after purchasing an additional 852,276 shares during the period. State Street Corp boosted its position in Veralto by 1.9% during the third quarter. State Street Corp now owns 10,449,828 shares of the company’s stock worth $1,115,182,000 after purchasing an additional 191,872 shares during the period. Geode Capital Management LLC boosted its position in Veralto by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 7,249,875 shares of the company’s stock worth $720,876,000 after purchasing an additional 126,814 shares during the period. Impax Asset Management Group plc boosted its position in Veralto by 3.9% during the third quarter. Impax Asset Management Group plc now owns 3,839,722 shares of the company’s stock worth $408,503,000 after purchasing an additional 144,044 shares during the period. Finally, First Trust Advisors LP boosted its position in Veralto by 24.3% during the third quarter. First Trust Advisors LP now owns 3,508,512 shares of the company’s stock worth $374,042,000 after purchasing an additional 685,614 shares during the period. Institutional investors own 91.28% of the company’s stock.
Veralto Stock Performance
Shares of NYSE VLTO opened at $86.17 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $87.37 and its two-hundred day moving average is $93.91. The company has a market cap of $21.16 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.39 and a beta of 0.69. Veralto Corporation has a 12 month low of $80.03 and a 12 month high of $110.11.
Veralto Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Veralto’s payout ratio is currently 13.44%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on VLTO shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Veralto in a research report on Wednesday, February 11th. Robert W. Baird set a $103.00 target price on Veralto in a research report on Thursday, April 30th. UBS Group upped their target price on Veralto from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Citigroup decreased their target price on Veralto from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, Stifel Nicolaus decreased their target price on Veralto from $118.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.88.
Get Our Latest Stock Report on Veralto
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. This segment provides water solutions, including chemical reagents, services, and digital solutions.
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