IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Stock Holdings in Veralto Co. (NYSE:VLTO)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,055 shares of the company's stock after selling 12,801 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Veralto were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLTO. Nordea Investment Management AB boosted its position in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. State Street Corp lifted 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 worth $1,074,654,000 after purchasing an additional 860,608 shares during the period. Principal Financial Group Inc. grew its stake in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company's stock worth $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Geode Capital Management LLC raised its position in Veralto by 10.5% during the 3rd 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in Veralto during the 4th quarter worth about $51,986,000. Institutional investors own 91.28% of the company's stock.

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Insiders Place Their Bets

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,881 shares of company stock worth $2,176,770. Insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada lowered their price target 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 research report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price target on the stock. Finally, Citigroup decreased their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $113.50.

Veralto Stock Up 0.5 %

Shares of NYSE VLTO traded up $0.51 during trading on Tuesday, hitting $97.96. 161,917 shares of the company traded hands, compared to its average volume of 1,498,046. The firm has a market capitalization of $24.25 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 4.24 and a beta of 1.11. The business's fifty day moving average is $99.37 and its 200 day moving average is $103.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a fifty-two week low of $85.91 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities research analysts predict that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

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.