Avalon Trust Co Trims Position in Veralto Co. (NYSE:VLTO)

Avalon Trust Co lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,332 shares of the company’s stock after selling 132 shares during the quarter. Avalon Trust Co owned approximately 0.05% of Veralto worth $13,376,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Savant Capital LLC raised its position in shares of Veralto by 0.5% in the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after buying an additional 98 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after buying an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after buying an additional 100 shares during the period. Allworth Financial LP raised its position in shares of Veralto by 19.4% in the 4th quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after buying an additional 101 shares during the period. Finally, Insigneo Advisory Services LLC increased its holdings in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Stock Up 2.4 %

Shares of Veralto stock opened at $98.05 on Friday. The business has a 50-day moving average of $100.28 and a 200-day moving average of $104.86. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The company has a market capitalization of $24.27 billion, a PE ratio of 29.36, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results 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 return on equity of 49.29% and a net margin of 16.04%. As a group, equities analysts forecast 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. Investors of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is 13.17%.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $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 available at this link. Also, SVP Surekha Trivedi sold 590 shares of the firm’s 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 $849,964.50. This represents a 6.51 % decrease in their position. 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. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on VLTO. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup lowered 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. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.50.

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.