Alliancebernstein L.P. Has $496.22 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Alliancebernstein L.P. lowered its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,872,061 shares of the company's stock after selling 102,447 shares during the quarter. Alliancebernstein L.P. owned 1.97% of Veralto worth $496,219,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in Veralto in the 4th quarter valued at $29,000. Albion Financial Group UT grew its position in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after acquiring an additional 336 shares during the period. Geneos Wealth Management Inc. acquired a new position in Veralto during the fourth quarter worth $42,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Veralto by 35.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock valued at $43,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Trading Up 1.1 %

Shares of VLTO stock traded up $1.10 during trading hours on Wednesday, reaching $98.72. The company had a trading volume of 790,839 shares, compared to its average volume of 1,501,229. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market cap of $24.44 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a 50 day moving average of $99.26 and a 200 day moving average of $103.77.

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Veralto (NYSE:VLTO - Get Free Report) 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, equities research analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto's payout ratio is 13.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 target price for the company. Royal Bank of Canada lowered their price target 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 reduced their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $113.50.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 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 $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,471 shares of company stock worth $2,234,030 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

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.