Mirova US LLC Trims Stock Position in Veralto Co. (NYSE:VLTO)

Mirova US LLC lessened its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,032,125 shares of the company's stock after selling 31,201 shares during the quarter. Veralto comprises about 1.3% of Mirova US LLC's investment portfolio, making the stock its 29th biggest position. Mirova US LLC owned about 0.42% of Veralto worth $105,122,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in VLTO. OFI Invest Asset Management purchased a new position in shares of Veralto in the 4th quarter worth $26,000. BankPlus Trust Department acquired a new position in Veralto in the fourth quarter worth about $29,000. Albion Financial Group UT grew its stake in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Veralto in the fourth quarter worth about $42,000. Finally, Erste Asset Management GmbH acquired a new position in Veralto in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction 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 trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,467 shares of company stock valued at $1,150,366. Company insiders own 0.31% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on VLTO shares. Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 price target on the stock. Finally, Royal Bank of Canada cut their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $113.50.

Veralto Trading Down 0.6 %

VLTO traded down $0.58 during mid-day trading on Friday, hitting $97.56. The stock had a trading volume of 2,879,745 shares, compared to its average volume of 1,415,486. The stock's fifty day simple moving average is $99.98 and its 200-day simple moving average is $104.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates 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, research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

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

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.