Park National Corp OH Sells 661 Shares of Veralto Co. (NYSE:VLTO)

Park National Corp OH decreased its position in shares of Veralto Co. (NYSE:VLTO) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,345 shares of the company’s stock after selling 661 shares during the quarter. Park National Corp OH’s holdings in Veralto were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VLTO. Diversified Trust Co acquired a new position in Veralto in the fourth quarter valued at about $1,528,000. Nordea Investment Management AB lifted its holdings in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Veralto by 6.7% in the 4th quarter. GAMMA Investing LLC now owns 4,216 shares of the company’s stock valued at $429,000 after purchasing an additional 263 shares during the period. Versant Capital Management Inc increased its stake in Veralto by 140.1% during the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after purchasing an additional 255 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Veralto by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock worth $273,906,000 after buying an additional 314,412 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VLTO shares. Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets upped their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Veralto Stock Performance

VLTO opened at $101.91 on Thursday. The business’s 50-day simple moving average is $104.23 and its 200 day simple moving average is $105.59. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a market capitalization of $25.20 billion, a PE ratio of 31.45, a PEG ratio of 4.30 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced 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. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is 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.