Everence Capital Management Inc. Lowers Stake in Veralto Co. (NYSE:VLTO)

Everence Capital Management Inc. reduced its stake in Veralto Co. (NYSE:VLTO - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,064 shares of the company's stock after selling 10,500 shares during the period. Everence Capital Management Inc.'s holdings in Veralto were worth $923,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Veralto by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company's stock worth $1,801,000 after buying an additional 100 shares during the period. TD Asset Management Inc grew its position in Veralto by 4.0% in the 2nd quarter. TD Asset Management Inc now owns 396,442 shares of the company's stock valued at $37,848,000 after acquiring an additional 15,094 shares in the last quarter. Victory Capital Management Inc. increased its stake in Veralto by 8.8% during the second quarter. Victory Capital Management Inc. now owns 95,854 shares of the company's stock worth $9,151,000 after purchasing an additional 7,762 shares during the period. Arizona State Retirement System lifted its position in shares of Veralto by 5.2% during the second quarter. Arizona State Retirement System now owns 67,724 shares of the company's stock worth $6,466,000 after purchasing an additional 3,365 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Veralto by 7.0% in the second quarter. Private Advisor Group LLC now owns 15,141 shares of the company's stock valued at $1,445,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Veralto Stock Up 0.2 %

Shares of NYSE VLTO traded up $0.21 during midday trading on Friday, hitting $100.80. 903,031 shares of the company's stock were exchanged, compared to its average volume of 1,109,115. The firm's fifty day simple moving average is $104.35 and its 200-day simple moving average is $105.56. The company has a market cap of $24.93 billion, a PE ratio of 31.11, a P/E/G ratio of 4.30 and a beta of 1.06. Veralto Co. has a twelve month low of $73.91 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Veralto's previous quarterly dividend of $0.09. Veralto's dividend payout ratio is currently 13.58%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company's stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Veralto from $119.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $109.50.

About Veralto

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.