Veralto Co. (NYSE:VLTO) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Veralto Co. (NYSE:VLTO - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,840 shares of the company's stock after selling 3,871 shares during the quarter. Truist Financial Corp's holdings in Veralto were worth $10,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Veralto in the third quarter worth about $25,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company's stock worth $35,000 after acquiring an additional 270 shares during the period. Albion Financial Group UT lifted its stake in 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 acquiring an additional 336 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto during the fourth quarter valued at about $42,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Veralto during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Trading Up 0.5 %

Shares of NYSE:VLTO traded up $0.49 during midday trading on Friday, reaching $98.21. 2,816,519 shares of the company's stock were exchanged, compared to its average volume of 1,480,171. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 4.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm's 50 day simple moving average is $101.54 and its two-hundred day simple moving average is $105.93. Veralto Co. has a fifty-two week low of $85.70 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS 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%. As a group, sell-side analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Veralto's previous quarterly dividend of $0.09. Veralto's dividend payout ratio (DPR) is currently 13.17%.

Insider Buying and Selling at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto 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 transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on VLTO. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target for the company. Citigroup decreased their price objective on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on shares of Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $112.55.

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.