PNC Financial Services Group Inc. Reduces Position in Veralto Co. (NYSE:VLTO)

PNC Financial Services Group Inc. decreased its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,352 shares of the company's stock after selling 2,758 shares during the period. PNC Financial Services Group Inc.'s holdings in Veralto were worth $9,406,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of VLTO. Savant Capital LLC boosted its holdings in shares of Veralto by 0.5% during the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company's stock worth $2,055,000 after purchasing an additional 98 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company's stock worth $431,000 after purchasing an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company's stock worth $821,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Veralto by 19.4% during the fourth quarter. Allworth Financial LP now owns 622 shares of the company's stock worth $64,000 after purchasing an additional 101 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company's stock worth $645,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Melissa Aquino sold 463 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock worth $1,150,366 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VLTO has been the topic of several analyst reports. Citigroup decreased their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus reduced 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 began coverage on Veralto in a report on Thursday, December 12th. They issued a "buy" rating and a $125.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $112.55.

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Veralto Trading Down 3.2 %

Shares of VLTO opened at $97.07 on Wednesday. The stock's 50-day moving average is $100.56 and its two-hundred day moving average is $105.13. The stock has a market cap of $24.03 billion, a PE ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 12 month low of $85.90 and a 12 month 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.

Veralto (NYSE:VLTO - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) 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 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 paid 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 payout ratio is currently 13.17%.

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.

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