Lincoln Capital LLC Has $2.50 Million Stock Position in Veralto Co. (NYSE:VLTO)

Lincoln Capital LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,569 shares of the company’s stock after selling 239 shares during the period. Lincoln Capital LLC’s holdings in Veralto were worth $2,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. State Street Corp grew its holdings in shares of Veralto by 9.8% in the 3rd 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. grew its holdings in shares of Veralto by 207.2% in the 3rd 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 increased its position in shares of Veralto by 10.5% in the 3rd 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Veralto by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock valued at $208,511,000 after acquiring an additional 418,588 shares during the period. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of research analyst reports. Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report 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 for the company. Stifel Nicolaus decreased their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.27.

Veralto Trading Down 1.0 %

Veralto stock opened at $102.98 on Monday. Veralto Co. has a 52 week low of $75.03 and a 52 week high of $115.00. The stock has a market capitalization of $25.47 billion, a P/E ratio of 31.78, a PEG ratio of 3.88 and a beta of 1.06. The stock has a 50-day simple moving average of $104.07 and a 200 day simple moving average of $105.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Analysts expect that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Veralto 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.