Pictet Asset Management Holding SA Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Pictet Asset Management Holding SA grew its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,764,889 shares of the company's stock after purchasing an additional 54,795 shares during the quarter. Pictet Asset Management Holding SA owned about 1.93% of Veralto worth $485,304,000 at the end of the most recent reporting period.

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

Veralto Trading Up 0.1 %

Shares of VLTO traded up $0.06 during trading hours on Tuesday, reaching $97.51. 208,345 shares of the company traded hands, compared to its average volume of 1,447,400. Veralto Co. has a 12 month low of $85.91 and a 12 month high of $115.00. The company has a market capitalization of $24.14 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company's fifty day moving average price is $99.37 and its two-hundred day moving average price is $103.85. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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Veralto (NYSE:VLTO - Get Free Report) last posted its 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's dividend payout ratio is currently 13.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VLTO shares. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, 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 research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Veralto has an average rating of "Hold" and a consensus target price of $113.50.

Insider Activity

In other news, SVP Melissa Aquino sold 463 shares of Veralto 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 completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the sale, the chief executive officer now owns 116,637 shares in the company, valued at $11,495,742.72. The trade was a 8.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,881 shares of company stock worth $2,176,770. Corporate insiders own 0.31% of the company's stock.

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.