Heritage Trust Co Invests $517,000 in Veralto Co. (NYSE:VLTO)

Heritage Trust Co acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,076 shares of the company's stock, valued at approximately $517,000.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in Veralto by 34.6% during 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 in the last quarter. Park Avenue Securities LLC grew its position in Veralto by 18.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after buying an additional 2,676 shares during the last quarter. Czech National Bank lifted its position in Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after purchasing an additional 3,284 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Veralto by 15.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock valued at $1,438,000 after buying an additional 1,889 shares during the period. Finally, David Wealth Management LLC purchased a new stake in shares of Veralto during the 4th quarter worth $1,013,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated 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 transaction, the chief executive officer now owns 104,496 shares of the company's stock, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,471 shares of company stock valued at $2,234,030 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Veralto from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.10.

Veralto Stock Performance

VLTO traded up $0.79 during trading hours on Thursday, hitting $90.12. The company's stock had a trading volume of 504,748 shares, compared to its average volume of 1,505,597. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The firm has a market capitalization of $22.36 billion, a PE ratio of 26.99, a PEG ratio of 4.24 and a beta of 0.97. The company has a 50-day simple moving average of $96.27 and a 200 day simple moving average of $102.11. 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 (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data 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 return on equity of 49.29% and a net margin of 16.04%. As a group, sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is presently 13.17%.

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.