Nexus Investment Management ULC Makes New $65,000 Investment in Veralto Co. (NYSE:VLTO)

Nexus Investment Management ULC purchased a new stake in Veralto Co. (NYSE:VLTO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 667 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLTO. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto in the fourth quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in Veralto during the 4th quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in Veralto during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. acquired a new stake in Veralto during the 4th quarter valued at approximately $42,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $43,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VLTO shares. Citigroup dropped their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Northcoast Research started coverage on shares of Veralto in a report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price on the stock. Royal Bank of Canada increased their price target on Veralto from $103.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Veralto from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $110.09.

Insider Transactions at Veralto

In other news, SVP Melissa Aquino sold 31,689 shares of Veralto stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $93.67, for a total transaction of $2,968,308.63. Following the completion of the transaction, the senior vice president now directly owns 17,434 shares in the company, valued at $1,633,042.78. This trade represents a 64.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,418 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $95.00, for a total transaction of $989,710.00. Following the completion of the sale, the chief executive officer now owns 106,219 shares in the company, valued at $10,090,805. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,069 shares of company stock valued at $5,337,767 over the last ninety days. 0.36% of the stock is owned by company insiders.

Veralto Trading Up 0.4%

NYSE:VLTO opened at $101.16 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.24 and a beta of 0.99. The firm has a fifty day simple moving average of $95.01 and a two-hundred day simple moving average of $99.55. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, April 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is presently 12.57%.

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.