Redmond Asset Management LLC Acquires 787 Shares of Veralto Co. (NYSE:VLTO)

Redmond Asset Management LLC boosted its holdings in shares of Veralto Co. (NYSE:VLTO) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,938 shares of the company’s stock after acquiring an additional 787 shares during the period. Redmond Asset Management LLC’s holdings in Veralto were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter worth about $25,000. Albion Financial Group UT grew its holdings in Veralto by 2,100.0% during the 4th 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. bought a new position in Veralto during the 4th quarter worth about $42,000. Erste Asset Management GmbH bought a new position in Veralto during the 3rd quarter worth about $46,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after buying an additional 109 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Up 0.5 %

VLTO stock opened at $98.21 on Friday. The firm has a 50 day moving average of $101.54 and a 200 day moving average of $105.93. The stock has a market capitalization of $24.29 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. Veralto Co. has a 52 week low of $85.70 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Citigroup lowered 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. Stifel Nicolaus lowered their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.55.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

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.