133,139 Shares in Veralto Co. (NYSE:VLTO) Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 133,139 shares of the company’s stock, valued at approximately $10,952,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meritage Portfolio Management bought a new stake in Veralto during the fourth quarter worth about $1,866,000. Bank of New Hampshire bought a new stake in Veralto during the fourth quarter worth about $144,000. Stack Financial Management Inc bought a new stake in Veralto during the fourth quarter worth about $2,094,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Veralto during the fourth quarter worth about $431,000. Finally, Fractal Investments LLC bought a new stake in Veralto during the fourth quarter worth about $411,000. Institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 1.5 %

Shares of VLTO traded up $1.39 during midday trading on Thursday, reaching $93.79. 1,785,282 shares of the stock were exchanged, compared to its average volume of 1,625,037. Veralto Co. has a twelve month low of $65.51 and a twelve month high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The stock’s 50 day simple moving average is $88.23 and its 200 day simple moving average is $80.13.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Veralto Co. will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price target on the stock. Stifel Nicolaus boosted their price target on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets boosted their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus target price of $95.18.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

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.