Equitable Trust Co. Decreases Stake in Veralto Co. (NYSE:VLTO)

Equitable Trust Co. cut its position in shares of Veralto Co. (NYSE:VLTO) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,023 shares of the company’s stock after selling 544 shares during the period. Equitable Trust Co.’s holdings in Veralto were worth $410,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Veralto by 5.9% in the 3rd quarter. CWM LLC now owns 6,138 shares of the company’s stock worth $687,000 after buying an additional 343 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Veralto by 524.7% in the 3rd 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 last quarter. CHICAGO TRUST Co NA purchased a new position in Veralto in the third quarter worth about $204,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Veralto by 25.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,878 shares of the company’s stock worth $210,000 after acquiring an additional 382 shares during the last quarter. Finally, Creative Planning raised its position in Veralto by 2.9% during the third quarter. Creative Planning now owns 26,186 shares of the company’s stock valued at $2,929,000 after purchasing an additional 726 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. 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 research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $112.55.

Veralto Stock Up 0.1 %

Shares of VLTO opened at $99.85 on Wednesday. The firm has a fifty day moving average price of $102.78 and a 200-day moving average price of $106.34. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $24.69 billion, a P/E ratio of 29.89, a P/E/G ratio of 4.21 and a beta of 1.06. Veralto Co. has a 12-month low of $81.23 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) 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%. Equities research analysts expect that Veralto Co. will post 3.63 earnings per share for the current 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. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.44%. This is a boost from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is 13.17%.

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.