QRG Capital Management Inc. Purchases 823 Shares of Veralto Co. (NYSE:VLTO)

QRG Capital Management Inc. lifted its position in Veralto Co. (NYSE:VLTO) by 3.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,235 shares of the company’s stock after buying an additional 823 shares during the quarter. QRG Capital Management Inc.’s holdings in Veralto were worth $2,468,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VLTO. State Street Corp grew its holdings in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Nordea Investment Management AB grew its stake in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the last quarter. FMR LLC increased its position in Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after buying an additional 162,347 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after buying an additional 11,430 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada dropped their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus dropped their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Citigroup dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus price target of $112.55.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,467 shares of company stock worth $1,150,366. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Up 0.7 %

NYSE:VLTO opened at $99.83 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The company’s fifty day moving average price is $101.12 and its 200-day moving average price is $105.69. Veralto Co. has a 1-year low of $85.70 and a 1-year high of $115.00. The firm has a market capitalization of $24.71 billion, a P/E ratio of 29.89, a PEG ratio of 4.24 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, equities research analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

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

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.