Chevy Chase Trust Holdings LLC Reduces Stock Position in Veralto Co. (NYSE:VLTO)

Chevy Chase Trust Holdings LLC reduced its stake in Veralto Co. (NYSE:VLTO - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,319 shares of the company's stock after selling 3,604 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Veralto worth $14,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Savant Capital LLC increased its stake in Veralto by 0.5% in the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company's stock valued at $2,055,000 after purchasing an additional 98 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock valued at $431,000 after purchasing an additional 99 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Veralto by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company's stock valued at $821,000 after purchasing an additional 100 shares in the last quarter. Strategic Blueprint LLC increased its stake in Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company's stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. Finally, Insigneo Advisory Services LLC increased its stake in Veralto by 1.8% in the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company's stock valued at $645,000 after purchasing an additional 103 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Stock Up 0.0 %

VLTO stock traded up $0.04 during trading on Thursday, reaching $97.72. The stock had a trading volume of 1,114,768 shares, compared to its average volume of 1,439,669. Veralto Co. has a one year low of $83.34 and a one year high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company's 50 day moving average is $101.70 and its two-hundred day moving average is $105.99. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 4.25 and a beta of 1.06.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data 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 net margin of 16.04% and a return on equity of 49.29%. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is an increase from Veralto's previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto's dividend payout ratio is presently 13.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a "buy" rating and a $125.00 price target for the company. Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada decreased their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research report on Thursday, February 6th. Finally, Citigroup decreased their target price on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Veralto has an average rating of "Hold" and a consensus price target of $112.55.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 463 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value 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. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Veralto 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.