Segment Wealth Management LLC Sells 1,460 Shares of Veralto Co. (NYSE:VLTO)

Segment Wealth Management LLC cut its position in Veralto Co. (NYSE:VLTO) by 10.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,378 shares of the company’s stock after selling 1,460 shares during the period. Segment Wealth Management LLC’s holdings in Veralto were worth $1,261,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VLTO. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the third quarter worth $25,000. Goodman Advisory Group LLC bought a new position in Veralto during the 2nd quarter worth $26,000. Fairscale Capital LLC acquired a new position in Veralto during the 2nd quarter worth about $30,000. Raleigh Capital Management Inc. grew its position in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VLTO. BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Citigroup lowered their price target 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. Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group began coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.27.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Veralto Trading Down 1.0 %

NYSE:VLTO opened at $102.98 on Tuesday. Veralto Co. has a 12 month low of $75.03 and a 12 month high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 4.00 and a beta of 1.06. The firm has a fifty day simple moving average of $104.07 and a two-hundred day simple moving average of $105.91.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s payout ratio is currently 13.58%.

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.