Veralto Co. (NYSE:VLTO) Stake Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 106.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,520 shares of the company's stock after purchasing an additional 12,662 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Veralto were worth $2,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC bought a new stake in Veralto in the third quarter worth about $25,000. Albion Financial Group UT raised its position 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 in the last quarter. Geneos Wealth Management Inc. bought a new stake in Veralto in the fourth quarter worth about $42,000. Raleigh Capital Management Inc. raised its position in Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock worth $43,000 after acquiring an additional 109 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company's stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Wall Street Analyst Weigh In

VLTO has been the topic of several research reports. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada dropped their price target 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. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $112.55.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the business'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 value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company's stock, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Veralto Trading Up 0.5 %

NYSE:VLTO opened at $98.21 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a fifty-two week low of $85.70 and a fifty-two week high of $115.00. The stock's 50-day moving average is $101.54 and its two-hundred day moving average is $105.93. The stock has a market cap of $24.29 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06.

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, beating 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%. As a group, equities research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. This is a boost from Veralto's previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto's payout ratio is presently 13.17%.

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.

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