Veralto Co. (NYSE:VLTO) Stake Boosted by Global Retirement Partners LLC

Global Retirement Partners LLC raised its position in shares of Veralto Co. (NYSE:VLTO) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,579 shares of the company’s stock after buying an additional 229 shares during the quarter. Global Retirement Partners LLC’s holdings in Veralto were worth $466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VLTO. Ashton Thomas Securities LLC acquired a new stake in Veralto during the 3rd quarter worth about $25,000. Albion Financial Group UT grew 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 valued at $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Veralto in the 4th quarter valued at approximately $42,000. Raleigh Capital Management Inc. lifted its position in 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 in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Veralto by 140.1% during the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

NYSE VLTO opened at $98.21 on Monday. Veralto Co. has a 1 year low of $85.70 and a 1 year high of $115.00. The company has a fifty day simple moving average of $101.42 and a 200 day simple moving average of $105.93. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company has a market cap of $24.29 billion, a P/E ratio of 29.41, a P/E/G ratio of 4.24 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, sell-side analysts predict that Veralto Co. will post 3.66 EPS for the current 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 dividend of $0.11 per share. 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 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s payout ratio is 13.17%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VLTO. Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada cut their price target 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. Citigroup lowered their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.55.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction 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 Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.