Segment Wealth Management LLC Has $1.26 Million Holdings in Veralto Co. (NYSE:VLTO)

Segment Wealth Management LLC reduced its stake in Veralto Co. (NYSE:VLTO) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,378 shares of the company’s stock after selling 1,460 shares during the quarter. Segment Wealth Management LLC’s holdings in Veralto were worth $1,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares in the last quarter. Geode Capital Management LLC raised its stake 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 worth $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Nordea Investment Management AB raised its stake 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 worth $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. FMR LLC increased its holdings in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after buying an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Veralto by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after acquiring an additional 11,430 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VLTO shares. BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus reduced their price target on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Stock Performance

NYSE:VLTO opened at $102.98 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. 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 price-to-earnings ratio of 31.78, a PEG ratio of 4.00 and a beta of 1.06. The stock has a fifty day moving average price of $104.07 and a 200-day moving average price of $105.91.

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

Veralto Increases Dividend

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

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

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.