Veralto Co. (NYSE:VLTO) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,130 shares of the company’s stock after selling 123 shares during the period. Perkins Coie Trust Co’s holdings in Veralto were worth $726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in Veralto by 46.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,591 shares of the company’s stock worth $343,000 after purchasing an additional 1,133 shares during the period. Dimensional Fund Advisors LP increased its position in Veralto by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,020,225 shares of the company’s stock worth $97,414,000 after buying an additional 35,345 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Veralto by 4.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,014 shares of the company’s stock valued at $893,000 after purchasing an additional 387 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Veralto by 15.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,802 shares of the company’s stock valued at $363,000 after buying an additional 496 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Veralto by 4.7% in the 2nd quarter. Amalgamated Bank now owns 47,528 shares of the company’s stock valued at $4,537,000 after acquiring an additional 2,151 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VLTO. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. BMO Capital Markets increased their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. 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 report on Friday, October 25th. Citigroup decreased their price target 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 shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Six equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $113.27.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $102.98 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a 50-day simple moving average of $104.07 and a 200 day simple moving average of $105.84. Veralto Co. has a fifty-two week low of $75.03 and a fifty-two week high of $115.00. The company has a market cap of $25.47 billion, a PE ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

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

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.