Apollon Wealth Management LLC Boosts Stock Position in Veralto Co. (NYSE:VLTO)

Apollon Wealth Management LLC grew its stake in shares of Veralto Co. (NYSE:VLTO) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,886 shares of the company’s stock after acquiring an additional 2,407 shares during the period. Apollon Wealth Management LLC’s holdings in Veralto were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the third quarter worth $25,000. Raleigh Capital Management Inc. lifted its position in shares of Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares in the last quarter. Albion Financial Group UT lifted its position in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto during the fourth quarter worth $42,000. Finally, Versant Capital Management Inc lifted its position in shares of Veralto by 140.1% during the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Citigroup lowered their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and five have assigned 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 $112.55.

Veralto Price Performance

Shares of VLTO stock opened at $99.85 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.87 and a current ratio of 1.92. The firm has a market cap of $24.69 billion, a P/E ratio of 29.89, a P/E/G ratio of 4.21 and a beta of 1.06. The business’s 50 day moving average price is $102.78 and its 200-day moving average price is $106.34. Veralto Co. has a fifty-two week low of $81.23 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities research analysts anticipate that Veralto Co. will post 3.63 earnings per share for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. Veralto’s payout ratio is presently 13.17%.

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.