Diversified Trust Co acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,007 shares of the company's stock, valued at approximately $1,528,000.
Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Veralto during the second quarter worth $26,000. Fairscale Capital LLC acquired a new stake in shares of Veralto during the second quarter worth $30,000. Hazlett Burt & Watson Inc. grew its position in Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company's stock valued at $32,000 after buying an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in 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 period. 91.28% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on VLTO. BMO Capital Markets raised their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research note on Monday, September 30th. Jefferies Financial Group started coverage on Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective on the stock. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus decreased their price target on Veralto from $119.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $109.50.
Get Our Latest Research Report on VLTO
Veralto Price Performance
Shares of Veralto stock traded up $0.26 on Thursday, hitting $101.91. The company's stock had a trading volume of 1,034,922 shares, compared to its average volume of 1,149,444. The company has a market capitalization of $25.20 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The firm has a fifty day moving average price of $104.22 and a 200-day moving average price of $105.57. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.
Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.
Veralto Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.11 per share. This is an increase from Veralto's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto's dividend payout ratio (DPR) is presently 13.58%.
Insider Activity
In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated 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 directly owns 10,413 shares in the company, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company's stock.
Veralto Profile
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Free Report)
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.
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