Veralto Co. (NYSE:VLTO) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Veralto Co. (NYSE:VLTO - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,347,185 shares of the company's stock after purchasing an additional 146,234 shares during the quarter. Vanguard Group Inc. owned about 11.87% of Veralto worth $2,989,011,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in VLTO. OFI Invest Asset Management acquired a new stake in Veralto during the fourth quarter worth about $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto during the 4th quarter worth about $29,000. Albion Financial Group UT increased its position in 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 purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Veralto in the fourth quarter valued at approximately $42,000. Finally, Erste Asset Management GmbH acquired a new position in Veralto during the third quarter valued at approximately $46,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on VLTO. Citigroup cut 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. Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They issued a "buy" rating and a $125.00 target price for the company. Finally, Royal Bank of Canada dropped 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $113.50.

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Veralto Stock Down 2.0 %

NYSE VLTO traded down $1.92 during mid-day trading on Friday, reaching $95.97. 834,861 shares of the company's stock traded hands, compared to its average volume of 1,499,859. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 28.73, 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. The company has a fifty day simple moving average of $99.48 and a 200-day simple moving average of $103.94. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, equities research analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm 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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 31st. Veralto's dividend payout ratio is presently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the business'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 $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 116,637 shares of the company's stock, valued at approximately $11,495,742.72. The trade was a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,881 shares of company stock worth $2,176,770 over the last 90 days. 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.