Wellington Management Group LLP Boosts Stock Position in Veralto Co. (NYSE:VLTO)

Wellington Management Group LLP raised its position in shares of Veralto Co. (NYSE:VLTO - Free Report) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,102 shares of the company's stock after acquiring an additional 39,342 shares during the period. Wellington Management Group LLP owned approximately 0.23% of Veralto worth $57,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in Veralto in the 4th quarter valued at $26,000. BankPlus Trust Department bought a new position in Veralto in the 4th quarter valued at $29,000. Albion Financial Group UT lifted its holdings in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock worth $36,000 after buying an additional 336 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Veralto in the 4th quarter worth $42,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company's stock worth $43,000 after buying an additional 109 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction on 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 directly owns 10,011 shares of the company's stock, valued at approximately $971,567.55. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction on Tuesday, February 11th. The shares were 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 directly owns 20,761 shares of the company's stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,471 shares of company stock valued at $2,234,030 over the last quarter. 0.31% of the stock is owned by insiders.

Veralto Stock Down 2.7 %

Veralto stock traded down $2.47 during midday trading on Thursday, reaching $88.66. The company's stock had a trading volume of 169,397 shares, compared to its average volume of 1,504,798. The stock's 50-day simple moving average is $97.21 and its 200-day simple moving average is $102.78. 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 stock has a market capitalization of $21.99 billion, a P/E ratio of 26.61, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a 52-week low of $83.87 and a 52-week 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, 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%. On average, sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.50%. Veralto's dividend payout ratio (DPR) is 13.17%.

Analyst Ratings Changes

VLTO has been the subject of several research reports. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Royal Bank of Canada decreased their price objective on Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They set a "buy" rating and a $125.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Veralto currently has an average rating of "Hold" and an average target price of $113.50.

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.