Callan Family Office LLC Purchases New Stake in Veralto Co. (NYSE:VLTO)

Callan Family Office LLC purchased a new stake in Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,992 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted 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 buying an additional 1,009,170 shares during the period. State Street Corp lifted 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 buying an additional 860,608 shares during the period. Principal Financial Group Inc. lifted 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 buying an additional 757,389 shares during the period. Geode Capital Management LLC lifted 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 buying an additional 558,393 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Veralto in the fourth quarter valued at about $51,986,000. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Down 3.2 %

NYSE:VLTO opened at $97.07 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The company has a market cap of $24.03 billion, a PE ratio of 29.06, a PEG ratio of 4.24 and a beta of 1.11. Veralto Co. has a 52-week low of $85.90 and a 52-week high of $115.00. The stock has a 50-day simple moving average of $100.56 and a 200 day simple moving average of $105.13.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (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%. On average, sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s payout ratio is presently 13.17%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VLTO shares. Stifel Nicolaus cut their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group started coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $112.55.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is 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.