Teacher Retirement System of Texas Has $63.99 Million Position in Veralto Co. (NYSE:VLTO)

Teacher Retirement System of Texas boosted its position in shares of Veralto Co. (NYSE:VLTO) by 153.7% in the fourth quarter, Holdings Channel reports. The firm owned 628,317 shares of the company’s stock after purchasing an additional 380,699 shares during the period. Teacher Retirement System of Texas’ holdings in Veralto were worth $63,994,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares in the last quarter. State Street Corp grew its position in shares of Veralto by 9.8% in the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the period. Principal Financial Group Inc. increased its holdings in Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares in the last quarter. Geode Capital Management LLC increased its holdings in Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Veralto during the 4th quarter worth about $51,986,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Up 0.9 %

Shares of VLTO stock opened at $99.29 on Thursday. Veralto Co. has a 52-week low of $85.91 and a 52-week high of $115.00. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 4.24 and a beta of 1.11. The firm’s 50-day moving average is $100.11 and its 200-day moving average is $104.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is 13.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VLTO shares. Royal Bank of Canada reduced their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Citigroup reduced their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $113.50.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,467 shares of company stock valued at $1,150,366 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Veralto Company 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.