Veralto Co. (NYSE:VLTO) Stock Position Boosted by IFP Advisors Inc

IFP Advisors Inc grew its holdings in shares of Veralto Co. (NYSE:VLTO) by 64.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454 shares of the company’s stock after purchasing an additional 178 shares during the period. IFP Advisors Inc’s holdings in Veralto were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Veralto by 9.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Veralto by 10.5% during the 3rd 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 in the last quarter. Nordea Investment Management AB boosted its position in shares of Veralto by 34.6% during the 4th 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 in the last quarter. FMR LLC boosted its position in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after purchasing an additional 162,347 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after purchasing an additional 11,430 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock valued at $1,150,366 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Veralto Price Performance

Shares of VLTO opened at $97.88 on Friday. The firm has a market cap of $24.23 billion, a PE ratio of 29.31, a PEG ratio of 4.24 and a beta of 1.11. The firm’s 50 day moving average price is $100.75 and its 200 day moving average price is $105.43. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a twelve month low of $85.90 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, research analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VLTO. Royal Bank of Canada reduced their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Citigroup decreased their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.55.

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.