Sky Investment Group LLC Cuts Holdings in Veralto Co. (NYSE:VLTO)

Sky Investment Group LLC reduced its position in shares of Veralto Co. (NYSE:VLTO) by 11.1% during the 4th quarter, HoldingsChannel reports. The fund owned 3,657 shares of the company’s stock after selling 458 shares during the period. Sky Investment Group LLC’s holdings in Veralto were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Veralto during the third quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new position in shares of Veralto during the 2nd quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto during the 2nd quarter valued at approximately $30,000. Raleigh Capital Management Inc. grew its stake in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Veralto in the 3rd quarter worth $46,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Stock Down 1.0 %

NYSE VLTO opened at $102.98 on Tuesday. The business’s fifty day simple moving average is $104.07 and its 200-day simple moving average is $105.91. 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 firm has a market cap of $25.47 billion, a PE ratio of 31.78, a P/E/G ratio of 4.00 and a beta of 1.06. Veralto Co. has a 52 week low of $75.03 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results 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 net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate 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. Investors 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 is presently 13.58%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VLTO. Stifel Nicolaus decreased their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Citigroup reduced 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Veralto presently has a consensus rating of “Hold” and a consensus target price of $113.27.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Veralto 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.