SlateStone Wealth LLC Cuts Stock Position in Veralto Co. (NYSE:VLTO)

SlateStone Wealth LLC cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,238 shares of the company’s stock after selling 200 shares during the period. SlateStone Wealth LLC’s holdings in Veralto were worth $737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. State Street Corp boosted its holdings in Veralto by 9.8% in the third 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. Principal Financial Group Inc. boosted its holdings in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Veralto by 10.5% in the third 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. Finally, Raymond James Financial Inc. acquired a new position in Veralto in the fourth quarter valued at approximately $51,986,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group assumed 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 decreased their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.50.

Veralto Price Performance

Veralto stock opened at $98.05 on Monday. Veralto Co. has a 12 month low of $85.91 and a 12 month high of $115.00. 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 business has a 50 day simple moving average of $100.28 and a 200-day simple moving average of $104.82. The stock has a market capitalization of $24.27 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping 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%. Equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

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

Insider Transactions at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock worth $1,150,366 over the last 90 days. 0.31% of the stock is currently owned by insiders.

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.