Stevens Capital Management LP Increases Stake in Veralto Co. (NYSE:VLTO)

Stevens Capital Management LP grew its position in Veralto Co. (NYSE:VLTO - Free Report) by 213.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,022 shares of the company's stock after purchasing an additional 14,315 shares during the period. Veralto comprises about 0.9% of Stevens Capital Management LP's portfolio, making the stock its 21st largest position. Stevens Capital Management LP's holdings in Veralto were worth $2,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Veralto by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 3,478 shares of the company's stock valued at $389,000 after purchasing an additional 172 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Veralto by 4.3% in the third quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company's stock valued at $1,507,000 after buying an additional 560 shares during the period. Pathstone Holdings LLC increased its position in shares of Veralto by 0.9% during the third quarter. Pathstone Holdings LLC now owns 57,499 shares of the company's stock worth $6,432,000 after acquiring an additional 531 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Veralto by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 95,110 shares of the company's stock worth $10,639,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in Veralto by 262.5% in the 3rd quarter. Avior Wealth Management LLC now owns 1,084 shares of the company's stock valued at $121,000 after buying an additional 785 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

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Veralto Trading Up 0.3 %

NYSE:VLTO traded up $0.32 during trading hours on Thursday, hitting $98.05. 947,726 shares of the company were exchanged, compared to its average volume of 1,410,069. The company has a fifty day simple moving average of $99.62 and a 200 day simple moving average of $104.11. Veralto Co. has a one year low of $85.91 and a one year high of $115.00. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth 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.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's payout ratio is 13.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VLTO shares. Citigroup decreased their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 6th. Finally, 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 target price for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $113.50.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now directly owns 104,496 shares of the company's stock, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,881 shares of company stock valued at $2,176,770. Corporate insiders own 0.31% of the company's stock.

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.