AMG National Trust Bank Reduces Stock Holdings in Veralto Co. (NYSE:VLTO)

AMG National Trust Bank reduced its stake in Veralto Co. (NYSE:VLTO) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,020 shares of the company’s stock after selling 116 shares during the period. AMG National Trust Bank’s holdings in Veralto were worth $206,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VLTO. Nordea Investment Management AB increased its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. State Street Corp increased its stake in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Principal Financial Group Inc. increased its stake in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares during the last quarter. Geode Capital Management LLC increased its stake in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Veralto in the fourth quarter valued at approximately $51,986,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 463 shares of the stock in a transaction 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 transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on VLTO. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. 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 report on Thursday, February 6th. Citigroup decreased their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus decreased 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Veralto currently has an average rating of “Hold” and an average target price of $112.55.

Veralto Price Performance

Shares of NYSE VLTO opened at $100.16 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. The stock has a fifty day moving average price of $100.69 and a 200 day moving average price of $105.34. Veralto Co. has a 1-year low of $85.90 and a 1-year high of $115.00. The company has a market cap of $24.79 billion, a PE ratio of 29.99, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 31st. Veralto’s payout ratio is 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.