Cognios Beta Neutral Large Cap Fund LP Takes $442,000 Position in Veralto Co. (NYSE:VLTO)

Cognios Beta Neutral Large Cap Fund LP bought a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,374 shares of the company’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Factory Mutual Insurance Co. bought a new position in Veralto during the fourth quarter worth $9,260,000. State of Michigan Retirement System acquired a new stake in Veralto during the fourth quarter worth $4,940,000. Asset Management One Co. Ltd. acquired a new stake in Veralto during the fourth quarter worth $7,944,000. Vontobel Holding Ltd. acquired a new stake in Veralto during the fourth quarter worth $60,495,000. Finally, LS Investment Advisors LLC acquired a new stake in Veralto during the fourth quarter worth $1,660,000. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VLTO shares. Stifel Nicolaus lifted their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup lifted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Insiders Place Their Bets

In other Veralto 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 transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Veralto Stock Down 1.4 %

NYSE VLTO traded down $1.32 on Wednesday, hitting $92.40. 3,344,383 shares of the company were exchanged, compared to its average volume of 1,622,528. The firm has a 50 day moving average of $88.06 and a two-hundred day moving average of $80.05. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto Co. has a 1-year low of $65.51 and a 1-year high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts expect that Veralto Co. will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.39%.

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.