State of Alaska Department of Revenue Sells 8,085 Shares of Veralto Co. (NYSE:VLTO)

State of Alaska Department of Revenue cut its position in Veralto Co. (NYSE:VLTO) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,197 shares of the company’s stock after selling 8,085 shares during the quarter. State of Alaska Department of Revenue’s holdings in Veralto were worth $2,871,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of VLTO. Mather Group LLC. increased its position in Veralto by 55.8% in the 3rd quarter. Mather Group LLC. now owns 888 shares of the company’s stock worth $99,000 after buying an additional 318 shares during the period. Brookstone Capital Management raised its stake in shares of Veralto by 8.9% in the 3rd quarter. Brookstone Capital Management now owns 3,240 shares of the company’s stock valued at $362,000 after buying an additional 266 shares in the last quarter. CWM LLC boosted its position in shares of Veralto by 5.9% during the 3rd quarter. CWM LLC now owns 6,138 shares of the company’s stock valued at $687,000 after acquiring an additional 343 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Veralto by 524.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,024 shares of the company’s stock valued at $227,000 after acquiring an additional 1,700 shares during the period. Finally, CHICAGO TRUST Co NA acquired a new stake in Veralto during the third quarter valued at approximately $204,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Veralto stock opened at $98.87 on Monday. The stock’s fifty day moving average price is $102.92 and its two-hundred day moving average price is $106.29. The firm has a market cap of $24.45 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87. Veralto Co. has a one year low of $81.23 and a one year high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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%. As a group, research analysts expect that Veralto Co. will post 3.63 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is 13.17%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada cut 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. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup decreased their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on Veralto in a research report on Thursday, December 12th. They issued 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 issued a buy rating to the company. According to MarketBeat, Veralto presently has an average rating of “Hold” and an average target price of $112.55.

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.