Veralto Co. (NYSE:VLTO) Stake Decreased by Avalon Trust Co

Avalon Trust Co lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 131,332 shares of the company’s stock after selling 132 shares during the quarter. Avalon Trust Co’s holdings in Veralto were worth $13,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Natixis Advisors LLC raised its holdings in shares of Veralto by 6.9% during the fourth quarter. Natixis Advisors LLC now owns 191,100 shares of the company’s stock valued at $19,463,000 after buying an additional 12,403 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Veralto by 7.8% during the fourth quarter. Frank Rimerman Advisors LLC now owns 5,023 shares of the company’s stock valued at $512,000 after buying an additional 363 shares during the last quarter. LBP AM SA bought a new stake in Veralto during the fourth quarter worth approximately $15,814,000. PGGM Investments raised its holdings in Veralto by 112.2% during the fourth quarter. PGGM Investments now owns 55,591 shares of the company’s stock worth $5,662,000 after purchasing an additional 29,397 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in Veralto by 72.2% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 103,280 shares of the company’s stock worth $10,536,000 after purchasing an additional 43,313 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VLTO. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.50.

Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,467 shares of company stock worth $1,150,366. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Up 2.4 %

Veralto stock opened at $98.05 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The firm’s 50 day moving average price is $100.28 and its two-hundred day moving average price is $104.86.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 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.