Oppenheimer & Co. Inc. Sells 3,357 Shares of Veralto Co. (NYSE:VLTO)

Oppenheimer & Co. Inc. trimmed its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 61.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,062 shares of the company's stock after selling 3,357 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Veralto were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. PEAK6 Investments LLC boosted its stake in Veralto by 246.3% during the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock worth $977,000 after buying an additional 6,211 shares in the last quarter. Nordea Investment Management AB raised its position in Veralto by 34.6% in 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 lifted its stake in Veralto by 18.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock worth $1,755,000 after purchasing an additional 2,676 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company's stock valued at $18,259,000 after purchasing an additional 15,048 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Veralto by 6.5% in the 4th 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. Institutional investors and hedge funds own 91.28% of the company's stock.

Remove Ads

Insider Buying and Selling at Veralto

In related news, 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 completion of the sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,467 shares of company stock worth $1,150,366. Company insiders own 0.31% of the company's stock.

Veralto Price Performance

Shares of VLTO stock traded up $0.18 during trading hours on Thursday, reaching $95.61. 843,730 shares of the company were exchanged, compared to its average volume of 1,458,348. Veralto Co. has a fifty-two week low of $85.90 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 1.69. The stock's fifty day moving average is $100.43 and its two-hundred day moving average is $105.06. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data 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 return on equity of 49.29% and a net margin of 16.04%. Sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share 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 issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.46%. Veralto's dividend payout ratio is currently 13.17%.

Wall Street Analyst Weigh In

VLTO has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They issued a "buy" rating and a $125.00 price target on the stock. Citigroup reduced their target price 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. Royal Bank of Canada dropped their target price on shares of 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, Stifel Nicolaus reduced their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Veralto currently has an average rating of "Hold" and a consensus price target of $113.50.

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.