Ballentine Partners LLC Purchases 114 Shares of Veralto Co. (NYSE:VLTO)

Ballentine Partners LLC boosted its position in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,111 shares of the company’s stock after buying an additional 114 shares during the quarter. Ballentine Partners LLC’s holdings in Veralto were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Veralto in the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the second quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the period. Versant Capital Management Inc lifted its position in shares of Veralto by 140.1% in the fourth 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 last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Veralto during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus dropped their price target on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $113.27.

Veralto Stock Up 0.5 %

VLTO stock opened at $103.26 on Friday. Veralto Co. has a 52 week low of $75.05 and a 52 week high of $115.00. The business has a 50-day simple moving average of $103.99 and a 200 day simple moving average of $106.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market cap of $25.54 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 4.33 and a beta of 1.06.

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

Veralto Increases Dividend

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

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated 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 directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.