State of Alaska Department of Revenue Sells 8,085 Shares of Veralto Co. (NYSE:VLTO)

State of Alaska Department of Revenue lessened its stake in Veralto Co. (NYSE:VLTO - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,197 shares of the company's stock after selling 8,085 shares during the quarter. State of Alaska Department of Revenue's holdings in Veralto were worth $2,871,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Nordea Investment Management AB raised its stake in Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company's stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the period. PEAK6 Investments LLC raised its stake in Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company's stock valued at $977,000 after acquiring an additional 6,211 shares during the period. Park Avenue Securities LLC raised its stake in Veralto by 18.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company's stock valued at $1,755,000 after acquiring an additional 2,676 shares during the period. Czech National Bank raised its stake in Veralto by 6.5% in the 4th quarter. Czech National Bank now owns 53,622 shares of the company's stock valued at $5,461,000 after acquiring an additional 3,284 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Veralto by 15.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company's stock valued at $1,438,000 after acquiring an additional 1,889 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VLTO shares. Jefferies Financial Group started coverage on Veralto in a research note on Thursday, December 12th. They issued a "buy" rating and a $125.00 price target on the stock. Stifel Nicolaus dropped their price target on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada lowered their price objective on 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 objective on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $112.55.

Veralto Price Performance

Shares of VLTO traded down $0.29 during trading hours on Thursday, hitting $99.77. 1,576,387 shares of the company were exchanged, compared to its average volume of 1,442,637. The company has a market cap of $24.67 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 4.21 and a beta of 1.06. Veralto Co. has a fifty-two week low of $82.90 and a fifty-two week high of $115.00. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm's fifty day moving average is $102.48 and its 200 day moving average is $106.26.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts anticipate that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. 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 0.44%. The ex-dividend date was Tuesday, December 31st. Veralto's dividend payout ratio is 13.17%.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now directly owns 20,761 shares of the company's stock, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

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.