Brookstone Capital Management Lowers Stock Holdings in Veralto Co. (NYSE:VLTO)

Brookstone Capital Management trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,056 shares of the company’s stock after selling 184 shares during the period. Brookstone Capital Management’s holdings in Veralto were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VLTO. Oppenheimer Asset Management Inc. boosted its holdings in Veralto by 46.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,591 shares of the company’s stock valued at $343,000 after acquiring an additional 1,133 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Veralto by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,020,225 shares of the company’s stock valued at $97,414,000 after buying an additional 35,345 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Veralto by 4.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,014 shares of the company’s stock valued at $893,000 after buying an additional 387 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Veralto by 15.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,802 shares of the company’s stock valued at $363,000 after buying an additional 496 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Veralto by 4.7% in the 2nd quarter. Amalgamated Bank now owns 47,528 shares of the company’s stock valued at $4,537,000 after buying an additional 2,151 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Citigroup decreased their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus cut their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada raised their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Trading Down 1.0 %

VLTO opened at $102.98 on Friday. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. Veralto Co. has a 52 week low of $75.03 and a 52 week high of $115.00. The business’s 50 day moving average is $104.07 and its two-hundred day moving average is $105.84. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, research analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued 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 dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is presently 13.58%.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

About Veralto

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.