Allstate Corp Buys Shares of 7,271 Veralto Co. (NYSE:VLTO)

Allstate Corp bought a new position in shares of Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,271 shares of the company's stock, valued at approximately $741,000.

Several other institutional investors also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. grew its holdings in Veralto by 3.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,999 shares of the company's stock valued at $407,000 after buying an additional 148 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Veralto by 11.3% during the 4th quarter. DnB Asset Management AS now owns 83,170 shares of the company's stock valued at $8,471,000 after acquiring an additional 8,464 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock valued at $485,304,000 after purchasing an additional 54,795 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Veralto by 1.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,184 shares of the company's stock worth $7,454,000 after purchasing an additional 761 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in Veralto by 3.0% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 272,904 shares of the company's stock valued at $27,795,000 after purchasing an additional 7,885 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a "sector perform" 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 presently has a consensus rating of "Hold" and an average price target of $113.50.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,471 shares of company stock valued at $2,234,030 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Veralto Trading Down 5.5 %

VLTO traded down $5.19 during trading hours on Friday, reaching $88.71. 2,531,475 shares of the company's stock traded hands, compared to its average volume of 1,498,490. The firm has a 50-day moving average price of $98.73 and a 200 day moving average price of $103.48. The firm has a market capitalization of $22.00 billion, a PE ratio of 26.56, a PEG 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.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.50%. Veralto's payout ratio is 13.17%.

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.