KLP Kapitalforvaltning AS Invests $10.04 Million in Veralto Co. (NYSE:VLTO)

KLP Kapitalforvaltning AS purchased a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 98,449 shares of the company’s stock, valued at approximately $10,036,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in shares of Veralto by 5.2% during the third quarter. Empowered Funds LLC now owns 3,478 shares of the company’s stock worth $389,000 after purchasing an additional 172 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Veralto by 4.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company’s stock worth $1,507,000 after buying an additional 560 shares in the last quarter. Nwam LLC acquired a new position in Veralto during the 3rd quarter worth about $332,000. Cerity Partners LLC grew its holdings in Veralto by 34.3% during the 3rd quarter. Cerity Partners LLC now owns 66,482 shares of the company’s stock worth $7,437,000 after acquiring an additional 16,977 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Veralto by 562.3% in the 3rd quarter. Larson Financial Group LLC now owns 755 shares of the company’s stock valued at $84,000 after acquiring an additional 641 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of VLTO opened at $98.27 on Tuesday. The stock has a market cap of $24.33 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The stock’s 50-day moving average price is $99.93 and its two-hundred day moving average price is $104.27. 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given 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 is Monday, March 31st. Veralto’s dividend payout ratio is currently 13.17%.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred 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 directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.