Fmr LLC Cuts Stock Position in Veralto Co. (NYSE:VLTO)

FMR LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,107,183 shares of the company's stock after selling 222,534 shares during the period. FMR LLC owned 1.26% of Veralto worth $316,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Veralto by 0.5% during the third quarter. Wellington Management Group LLP now owns 523,760 shares of the company's stock worth $58,588,000 after buying an additional 2,662 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Veralto by 120.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 8,130 shares of the company's stock worth $909,000 after buying an additional 4,438 shares during the last quarter. MML Investors Services LLC raised its holdings in Veralto by 4.3% during the third quarter. MML Investors Services LLC now owns 51,041 shares of the company's stock worth $5,709,000 after purchasing an additional 2,109 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Veralto by 5.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 72,423 shares of the company's stock valued at $8,101,000 after purchasing an additional 3,880 shares during the period. Finally, Barclays PLC boosted its holdings in Veralto by 43.8% in the 3rd quarter. Barclays PLC now owns 729,081 shares of the company's stock valued at $81,556,000 after purchasing an additional 222,076 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of VLTO traded up $0.42 during mid-day trading on Wednesday, reaching $90.48. 458,757 shares of the company's stock were exchanged, compared to its average volume of 1,494,881. Veralto Co. has a 52-week low of $83.86 and a 52-week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $96.46 and a two-hundred day simple moving average of $102.19. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. On average, sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed 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. This represents a $0.44 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto's payout ratio is 13.17%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares in the company, valued at $971,567.55. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a filing 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 that occurred on Tuesday, February 11th. The stock was 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 directly 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. Over the last 90 days, insiders have sold 22,471 shares of company stock worth $2,234,030. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus reduced their price target on Veralto from $110.00 to $102.00 and set a "buy" rating for the company in a report on Wednesday. Royal Bank of Canada decreased their target price on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup lowered their price target on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $111.10.

Veralto Company 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.