Assenagon Asset Management S.A. Has $1.44 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Assenagon Asset Management S.A. increased its stake in shares of Veralto Co. (NYSE:VLTO) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,115 shares of the company’s stock after buying an additional 1,889 shares during the period. Assenagon Asset Management S.A.’s holdings in Veralto were worth $1,438,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. PEAK6 Investments LLC grew its position in shares of Veralto by 246.3% during the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after buying an additional 6,211 shares during the period. Nordea Investment Management AB grew its holdings in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the period. Northstar Asset Management Inc. raised its position in shares of Veralto by 22.5% during the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after acquiring an additional 14,398 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Veralto by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after purchasing an additional 15,048 shares during the period. Finally, Czech National Bank boosted its position in shares of Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after purchasing an additional 3,284 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on VLTO. Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Stock Performance

Shares of VLTO stock opened at $103.26 on Friday. Veralto Co. has a 12 month low of $75.05 and a 12 month high of $115.00. The firm has a market capitalization of $25.54 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 4.33 and a beta of 1.06. The firm has a fifty day simple moving average of $103.99 and a two-hundred day simple moving average of $106.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s dividend payout ratio is presently 13.58%.

Veralto 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.