CIBC Private Wealth Group LLC Decreases Stake in Veralto Co. (NYSE:VLTO)

CIBC Private Wealth Group LLC lessened its stake in Veralto Co. (NYSE:VLTO - Free Report) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,769 shares of the company's stock after selling 4,124 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Veralto were worth $5,178,000 at the end of the most recent reporting period.

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

Veralto Trading Down 5.5 %

Shares of VLTO traded down $5.19 during trading hours on Friday, reaching $88.71. 2,531,475 shares of the company traded hands, compared to its average volume of 1,498,490. The stock's fifty day moving average price is $98.73 and its 200 day moving average price is $103.45. 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 firm has a market cap of $22.00 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a 12-month low of $86.04 and a 12-month high of $115.00.

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Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current 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 issued 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 0.50%. Veralto's payout ratio is currently 13.17%.

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 590 shares of the firm'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 owns 8,470 shares of the company's stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,471 shares of company stock worth $2,234,030. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VLTO shares. Royal Bank of Canada decreased 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. Citigroup decreased their price target 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. Jefferies Financial Group started 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, Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $113.50.

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.