Meritage Portfolio Management decreased its stake in Veralto Co. (NYSE:VLTO - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,388 shares of the company's stock after selling 3,466 shares during the period. Veralto makes up 1.0% of Meritage Portfolio Management's investment portfolio, making the stock its 22nd largest holding. Meritage Portfolio Management owned 0.06% of Veralto worth $15,419,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC purchased a new stake in Veralto during the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. grew its holdings in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock valued at $35,000 after purchasing an additional 270 shares during the period. Albion Financial Group UT increased its position in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Veralto during the fourth quarter worth approximately $42,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company's stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
Veralto Stock Up 0.4 %
Shares of NYSE:VLTO traded up $0.43 during midday trading on Friday, reaching $98.87. The company had a trading volume of 2,182,954 shares, compared to its average volume of 1,436,270. The stock has a market capitalization of $24.45 billion, a P/E ratio of 29.60, a PEG ratio of 4.21 and a beta of 1.06. The stock's fifty day moving average price is $102.92 and its 200-day moving average price is $106.29. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87. Veralto Co. has a one year low of $81.23 and a one year high of $115.00.
Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. Equities research analysts expect that Veralto Co. will post 3.63 earnings per share for the current fiscal year.
Veralto Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Veralto's previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto's payout ratio is 13.17%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on VLTO. Royal Bank of Canada reduced 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. Citigroup reduced their price objective on 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 began coverage on shares of Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Veralto presently has a consensus rating of "Hold" and a consensus price target of $112.55.
Read Our Latest Research Report on VLTO
About Veralto
(
Free Report)
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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