Skandinaviska Enskilda Banken AB publ Grows Stake in Veralto Co. (NYSE:VLTO)

Skandinaviska Enskilda Banken AB publ grew its holdings in Veralto Co. (NYSE:VLTO) by 72.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 103,280 shares of the company’s stock after acquiring an additional 43,313 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Veralto were worth $10,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Veralto by 9.8% in the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the period. Amundi lifted its stake in shares of Veralto by 2.3% in the 4th quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC lifted its stake in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the period. Nordea Investment Management AB lifted its stake in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. Finally, FMR LLC lifted its stake in shares of Veralto by 5.1% in the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after purchasing an additional 162,347 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VLTO shares. Jefferies Financial Group started coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus reduced their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.50.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,467 shares of company stock valued at $1,150,366. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Up 2.4 %

Veralto stock opened at $98.05 on Friday. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 4.24 and a beta of 1.11. The stock has a fifty day simple moving average of $100.28 and a two-hundred day simple moving average of $104.91. Veralto Co. has a 12 month low of $85.90 and a 12 month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last posted its 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%. Equities analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

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.