OLD National Bancorp IN Makes New $876,000 Investment in Veralto Co. (NYSE:VLTO)

OLD National Bancorp IN purchased a new position in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,652 shares of the company’s stock, valued at approximately $876,000.

Other institutional investors have also made changes to their positions in the company. Factory Mutual Insurance Co. bought a new stake in Veralto in the fourth quarter valued at about $9,260,000. State of Michigan Retirement System bought a new stake in Veralto in the fourth quarter valued at about $4,940,000. Asset Management One Co. Ltd. bought a new stake in Veralto in the fourth quarter valued at about $7,944,000. Vontobel Holding Ltd. bought a new stake in Veralto in the fourth quarter valued at about $60,495,000. Finally, LS Investment Advisors LLC bought a new stake in Veralto in the fourth quarter valued at about $1,660,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Up 2.8 %

Shares of NYSE VLTO opened at $93.75 on Wednesday. The company’s 50 day simple moving average is $88.06 and its 200 day simple moving average is $80.05. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $93.85. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that Veralto Co. will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VLTO. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research report on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target on the stock. Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price target on the stock. BMO Capital Markets started coverage on shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price target on the stock. Finally, Royal Bank of Canada upped their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $93.36.

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.