McGuire Investment Group LLC Has $371,000 Stock Position in Veralto Co. (NYSE:VLTO)

McGuire Investment Group LLC lowered its stake in Veralto Co. (NYSE:VLTO) by 19.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,641 shares of the company’s stock after selling 898 shares during the period. McGuire Investment Group LLC’s holdings in Veralto were worth $371,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of VLTO. Brown Brothers Harriman & Co. grew its position in shares of Veralto by 2.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after purchasing an additional 99 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after purchasing an additional 100 shares in the last quarter. Strategic Blueprint LLC grew its position in shares of Veralto by 4.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after purchasing an additional 102 shares in the last quarter. Insigneo Advisory Services LLC grew its position in shares of Veralto by 1.8% during the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after purchasing an additional 103 shares in the last quarter. Finally, Graypoint LLC grew its position in shares of Veralto by 2.4% during the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This 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 the SEC website. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $101.79 on Friday. The firm has a 50 day simple moving average of $103.99 and a 200 day simple moving average of $105.98. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 4.31 and a beta of 1.06. Veralto Co. has a one year low of $75.05 and a one 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.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. Research analysts predict that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VLTO. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Stifel Nicolaus cut their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Citigroup cut their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six 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 currently has a consensus rating of “Hold” and a consensus target price of $113.18.

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.