Burling Wealth Partners LLC Purchases New Shares in Veralto Co. (NYSE:VLTO)

Burling Wealth Partners LLC acquired a new stake in shares of Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,188 shares of the company's stock, valued at approximately $2,056,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock valued at $400,928,000 after buying an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after purchasing an additional 2,676 shares in the last quarter. Czech National Bank raised its position in Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after purchasing an additional 3,284 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Veralto by 15.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock worth $1,438,000 after purchasing an additional 1,889 shares in the last quarter. Finally, David Wealth Management LLC bought a new stake in shares of Veralto during the fourth quarter worth $1,013,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Ratings Changes

VLTO has been the topic of several research reports. Citigroup reduced their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reduced their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price target on shares of Veralto from $110.00 to $102.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $111.10.

Veralto Stock Up 0.7 %

NYSE VLTO traded up $0.66 during trading hours on Friday, hitting $92.40. 1,418,303 shares of the company traded hands, compared to its average volume of 1,475,130. The stock has a market capitalization of $22.92 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The business's 50-day moving average is $95.01 and its 200-day moving average is $100.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Sell-side analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.48%. Veralto's payout ratio is 13.17%.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $97.05, for a total value of $57,259.50. Following the transaction, the senior vice president now directly owns 10,011 shares of the company's stock, valued at $971,567.55. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company's stock, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,471 shares of company stock worth $2,234,030. Company insiders own 0.36% of the company's stock.

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.