Equitable Trust Co. Sells 544 Shares of Veralto Co. (NYSE:VLTO)

Equitable Trust Co. trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 11.9% during the 4th quarter, Holdings Channel reports. The fund owned 4,023 shares of the company’s stock after selling 544 shares during the period. Equitable Trust Co.’s holdings in Veralto were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the 3rd quarter worth $25,000. Raleigh Capital Management Inc. raised its holdings in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing 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 valued at $36,000 after buying an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Veralto in the 4th quarter valued at about $42,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Veralto in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 0.1 %

Veralto stock opened at $99.85 on Wednesday. Veralto Co. has a 52 week low of $81.23 and a 52 week high of $115.00. The stock has a 50-day moving average price of $102.78 and a 200 day moving average price of $106.34. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06.

Veralto (NYSE:VLTO) last released 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%. Sell-side analysts anticipate that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on VLTO shares. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six investment 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 has a consensus rating of “Hold” and a consensus target price of $112.55.

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.