Raymond James Financial Inc. Takes $51.99 Million Position in Veralto Co. (NYSE:VLTO)

Raymond James Financial Inc. acquired a new stake in Veralto Co. (NYSE:VLTO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 510,415 shares of the company's stock, valued at approximately $51,986,000. Raymond James Financial Inc. owned about 0.21% of Veralto at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Veralto during the 3rd quarter worth approximately $25,000. BankPlus Trust Department bought a new stake in shares of Veralto during the 4th quarter worth approximately $29,000. Albion Financial Group UT lifted its stake in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after acquiring an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Veralto during the 4th quarter worth approximately $42,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 35.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock worth $43,000 after acquiring an additional 109 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 104,496 shares of the company's stock, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated 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 directly owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock worth $1,150,366 in the last ninety days. 0.31% of the stock is owned by insiders.

Veralto Trading Down 3.2 %

Shares of NYSE:VLTO opened at $97.07 on Wednesday. Veralto Co. has a 12-month low of $85.90 and a 12-month high of $115.00. The business's fifty day simple moving average is $100.56 and its 200-day simple moving average is $105.13. The company has a market capitalization of $24.03 billion, a PE ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

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

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid 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 0.45%. Veralto's dividend payout ratio (DPR) is 13.17%.

Wall Street Analyst Weigh In

Several research analysts have 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 report on Monday, January 13th. Stifel Nicolaus reduced their price objective 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 started coverage on Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $112.55.

About Veralto

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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