Mizuho Securities USA LLC Boosts Holdings in Veralto Co. (NYSE:VLTO)

Mizuho Securities USA LLC grew its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,439 shares of the company's stock after buying an additional 7,415 shares during the period. Mizuho Securities USA LLC's holdings in Veralto were worth $2,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VLTO. OFI Invest Asset Management bought a new position in Veralto in the 4th quarter worth about $26,000. BankPlus Trust Department purchased a new stake in Veralto in the fourth quarter valued at approximately $29,000. Albion Financial Group UT raised 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 valued at $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Veralto during the fourth quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock worth $43,000 after buying an additional 109 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 2.0 %

NYSE:VLTO traded down $1.92 during trading hours on Friday, hitting $95.97. The company had a trading volume of 834,861 shares, compared to its average volume of 1,499,859. The stock has a 50-day moving average price of $99.62 and a 200 day moving average price of $104.11. The company has a market capitalization of $23.76 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00.

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Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) 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, equities research analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed 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 0.46%. Veralto's dividend payout ratio is currently 13.17%.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 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 value of $1,045,044.90. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company's stock, valued at $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. Insiders sold 21,881 shares of company stock valued at $2,176,770 over the last 90 days. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

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

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.