Figure 8 Investment Strategies LLC Takes Position in Veralto Co. (NYSE:VLTO)

Figure 8 Investment Strategies LLC purchased a new position in shares of Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,199 shares of the company's stock, valued at approximately $1,446,000. Veralto accounts for about 1.4% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC bought a new position in Veralto in the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock valued at $35,000 after purchasing an additional 270 shares during the last quarter. Albion Financial Group UT lifted its stake in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Veralto in the 4th quarter valued at approximately $42,000. Finally, Versant Capital Management Inc lifted its stake in Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company's stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 463 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company's stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company's stock.

Veralto Trading Down 0.2 %

Shares of VLTO traded down $0.23 during trading hours on Tuesday, hitting $97.76. 2,388,254 shares of the stock were exchanged, compared to its average volume of 1,458,037. The firm has a market capitalization of $24.18 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The business has a 50-day moving average of $102.03 and a 200-day moving average of $106.09. Veralto Co. has a fifty-two week low of $83.34 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87.

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, topping 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%. On average, research analysts expect that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. This is a boost from Veralto's previous quarterly dividend of $0.09. Veralto's payout ratio is currently 13.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. 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 price target for the company. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Six equities research 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, the company currently has an average rating of "Hold" and a consensus target price of $112.55.

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.