Davis R M Inc. Lowers Stake in Veralto Co. (NYSE:VLTO)

Davis R M Inc. lessened its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,992 shares of the company's stock after selling 12,092 shares during the period. Davis R M Inc.'s holdings in Veralto were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of VLTO. Savant Capital LLC raised its stake in shares of Veralto by 0.5% during the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company's stock worth $2,055,000 after buying an additional 98 shares during the period. Brown Brothers Harriman & Co. raised its position in Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock worth $431,000 after acquiring an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Veralto by 1.4% during 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. Allworth Financial LP grew its position in shares of Veralto by 19.4% in the fourth quarter. Allworth Financial LP now owns 622 shares of the company's stock valued at $64,000 after purchasing an additional 101 shares during the period. Finally, Insigneo Advisory Services LLC increased its stake in shares of Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company's stock worth $645,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of Veralto 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company'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 transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,467 shares of company stock worth $1,150,366. Company insiders own 0.31% of the company's stock.

Veralto Trading Down 3.2 %

Shares of VLTO stock opened at $97.07 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a twelve month low of $85.90 and a twelve month high of $115.00. The company's 50-day moving average price is $100.56 and its 200-day moving average price is $105.13. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 4.24 and a beta of 1.11.

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Veralto (NYSE:VLTO - Get Free Report) last posted 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%. As a group, equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

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

Analyst Upgrades and Downgrades

VLTO has been the topic of several research analyst reports. Citigroup lowered 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. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price target on 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, Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They set a "buy" rating and a $125.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $112.55.

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.

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