Sanibel Captiva Trust Company Inc. Sells 991 Shares of Veralto Co. (NYSE:VLTO)

Sanibel Captiva Trust Company Inc. decreased its stake in shares of Veralto Co. (NYSE:VLTO) by 24.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,131 shares of the company’s stock after selling 991 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Veralto were worth $319,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after acquiring an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares in the last quarter. Strategic Blueprint LLC increased its holdings in Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after buying an additional 102 shares during the period. Insigneo Advisory Services LLC raised its stake in Veralto by 1.8% in the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after buying an additional 103 shares in the last quarter. Finally, Graypoint LLC lifted its holdings in Veralto by 2.4% during the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after buying an additional 107 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Performance

Shares of VLTO stock opened at $102.98 on Monday. The business has a fifty day moving average of $104.07 and a 200 day moving average of $105.91. Veralto Co. has a 1 year low of $75.03 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87. The firm has a market capitalization 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 (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 the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. As a group, research analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently disclosed 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. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’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 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VLTO. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets increased their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Royal Bank of Canada lifted 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. Stifel Nicolaus decreased their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup cut their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Veralto has an average rating of “Hold” and a consensus target price of $113.27.

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.