Veralto Co. (NYSE:VLTO) Stock Position Decreased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lessened its stake in shares of Veralto Co. (NYSE:VLTO) by 40.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,233 shares of the company’s stock after selling 4,266 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Veralto were worth $635,000 at the end of the most recent quarter.

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

Veralto Stock Performance

NYSE:VLTO opened at $101.91 on Thursday. 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. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a 1 year low of $73.91 and a 1 year high of $115.00. The firm’s fifty day simple moving average is $104.23 and its 200 day simple moving average is $105.59.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

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

Analyst Upgrades and Downgrades

VLTO has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus cut their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $109.50.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.