RWA Wealth Partners LLC Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

RWA Wealth Partners LLC increased its position in shares of Veralto Co. (NYSE:VLTO) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,987 shares of the company’s stock after acquiring an additional 175 shares during the quarter. RWA Wealth Partners LLC’s holdings in Veralto were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VLTO. OFI Invest Asset Management purchased a new position in shares of Veralto in the 4th quarter valued at about $26,000. BankPlus Trust Department purchased a new position in Veralto in the fourth quarter valued at approximately $29,000. Albion Financial Group UT raised its holdings in 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 purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto during the 4th quarter worth approximately $42,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Veralto in the 3rd quarter valued at $46,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VLTO shares. Stifel Nicolaus cut their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup dropped their price target 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 initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $113.50.

Insider Activity at Veralto

In other news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred 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 directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the business’s 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 $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO opened at $97.61 on Wednesday. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The stock has a market capitalization of $24.16 billion, a P/E ratio of 29.23, a P/E/G ratio of 4.24 and a beta of 1.11. 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 company’s fifty day moving average is $99.26 and its two-hundred day moving average is $103.77.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (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%. On average, sell-side analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is currently 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.