Prudential PLC Increases Position in Veralto Co. (NYSE:VLTO)

Prudential PLC boosted its holdings in shares of Veralto Co. (NYSE:VLTO) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,817 shares of the company’s stock after purchasing an additional 1,072 shares during the quarter. Prudential PLC’s holdings in Veralto were worth $12,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Savant Capital LLC raised its position in shares of Veralto by 0.5% during the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after purchasing an additional 98 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Veralto by 19.4% during the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock valued at $64,000 after acquiring an additional 101 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Veralto by 1.8% in the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after acquiring an additional 103 shares in the last quarter. Quent Capital LLC increased its position in shares of Veralto by 17.3% during the fourth quarter. Quent Capital LLC now owns 699 shares of the company’s stock worth $71,000 after purchasing an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in 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 purchasing an additional 109 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

NYSE:VLTO opened at $88.71 on Friday. The company has a market capitalization of $22.00 billion, a P/E ratio of 26.56, a P/E/G ratio of 4.24 and a beta of 0.97. 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 $86.04 and a 52 week high of $115.00. The stock’s fifty day moving average is $98.73 and its two-hundred day moving average is $103.52.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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%. Equities analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 13.17%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the transaction, the senior vice president now owns 10,011 shares in the company, valued at approximately $971,567.55. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s 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 transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock worth $2,234,030 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VLTO. Royal Bank of Canada dropped their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $113.50.

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.