9,944 Shares in Veralto Co. (NYSE:VLTO) Acquired by David Wealth Management LLC

David Wealth Management LLC purchased a new stake in shares of Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,944 shares of the company's stock, valued at approximately $1,013,000. Veralto accounts for approximately 0.8% of David Wealth Management LLC's portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company's stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the period. Geode Capital Management LLC lifted its holdings in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company's stock worth $654,232,000 after purchasing an additional 558,393 shares during the period. Nordea Investment Management AB lifted its holdings in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock worth $400,928,000 after purchasing an additional 1,009,170 shares during the period. FMR LLC lifted its holdings in Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company's stock worth $372,462,000 after purchasing an additional 162,347 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company's stock worth $322,827,000 after purchasing an additional 11,430 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Wall Street Analyst Weigh In

VLTO has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Royal Bank of Canada reduced their price objective 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. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $112.55.

Insider Activity

In other news, SVP Melissa Aquino sold 463 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Veralto Trading Down 1.7 %

NYSE VLTO traded down $1.71 on Friday, hitting $98.04. 974,491 shares of the company were exchanged, compared to its average volume of 1,436,270. The company's 50 day moving average price is $102.20 and its 200-day moving average price is $106.16. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87. The firm has a market capitalization of $24.25 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. Veralto Co. has a twelve month low of $83.34 and a twelve month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Analysts predict that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

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