Veralto Co. (NYSE:VLTO) Stock Position Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 3.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 33,147 shares of the company’s stock after selling 1,136 shares during the period. Commonwealth Equity Services LLC’s holdings in Veralto were worth $3,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. OFI Invest Asset Management acquired a new position in shares of Veralto during the 4th quarter worth about $26,000. BankPlus Trust Department bought a new position in Veralto during the fourth quarter valued at about $29,000. Albion Financial Group UT raised its stake in shares of Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Veralto during the 4th quarter valued at about $42,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after purchasing an additional 109 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.5 %

Veralto stock opened at $98.27 on Tuesday. The company’s 50 day simple moving average is $99.93 and its 200 day simple moving average is $104.27. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.24 and a beta of 1.11. Veralto Co. has a fifty-two week low of $85.91 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, sell-side analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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 paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s payout ratio is currently 13.17%.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was 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 owns 8,470 shares of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock valued at $1,150,366 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.