National Bank of Canada FI Raises Holdings in Veralto Co. (NYSE:VLTO)

National Bank of Canada FI lifted its position in shares of Veralto Co. (NYSE:VLTO) by 315.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 402,805 shares of the company’s stock after acquiring an additional 305,855 shares during the quarter. National Bank of Canada FI’s holdings in Veralto were worth $41,037,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Townsquare Capital LLC increased its position in Veralto by 113.4% during the 3rd quarter. Townsquare Capital LLC now owns 4,754 shares of the company’s stock valued at $532,000 after purchasing an additional 2,526 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Veralto by 8.5% during the third quarter. Glenmede Trust Co. NA now owns 5,947 shares of the company’s stock valued at $665,000 after purchasing an additional 465 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Veralto by 119.6% during the third quarter. Public Sector Pension Investment Board now owns 10,834 shares of the company’s stock valued at $1,212,000 after buying an additional 5,900 shares during the period. Erste Asset Management GmbH bought a new position in Veralto in the third quarter worth approximately $46,000. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in Veralto by 10.7% during the third quarter. Chevy Chase Trust Holdings LLC now owns 141,923 shares of the company’s stock worth $15,876,000 after buying an additional 13,749 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,471 shares of company stock valued at $2,234,030 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on VLTO shares. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus cut their price objective 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. Finally, Royal Bank of Canada decreased 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 report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Veralto has a consensus rating of “Hold” and a consensus target price of $113.50.

Veralto Trading Up 1.1 %

NYSE VLTO opened at $98.72 on Thursday. Veralto Co. has a 12-month low of $85.91 and a 12-month high of $115.00. The company has a fifty day simple moving average of $99.18 and a two-hundred day simple moving average of $103.73. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a market cap of $24.49 billion, a P/E ratio of 29.56, a P/E/G ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last issued its 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 return on equity of 49.29% and a net margin of 16.04%. On average, analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

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