Sanibel Captiva Trust Company Inc. Sells 991 Shares of Veralto Co. (NYSE:VLTO)

Sanibel Captiva Trust Company Inc. reduced its stake in Veralto Co. (NYSE:VLTO) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,131 shares of the company’s stock after selling 991 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Veralto were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VLTO. Ashton Thomas Securities LLC bought a new position in shares of Veralto in the third quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto in the 2nd quarter worth $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto in the second quarter worth $30,000. Raleigh Capital Management Inc. increased its holdings in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto 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 transaction of $77,388.32. Following the completion of the transaction, the senior vice president now 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 filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Down 1.0 %

VLTO opened at $102.98 on Monday. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm’s fifty day moving average is $104.07 and its 200 day moving average is $105.91. Veralto Co. has a fifty-two week low of $75.03 and a fifty-two week high of $115.00.

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

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s dividend payout ratio is currently 13.58%.

Analyst Upgrades and Downgrades

VLTO has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Veralto in a research note 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 on the stock in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus dropped their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.27.

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.