Violich Capital Management Inc. Sells 166 Shares of Veralto Co. (NYSE:VLTO)

Violich Capital Management Inc. reduced its position in shares of Veralto Co. (NYSE:VLTO) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,812 shares of the company’s stock after selling 166 shares during the period. Violich Capital Management Inc.’s holdings in Veralto were worth $592,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Veralto during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. increased its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Albion Financial Group UT increased its position in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Veralto in the 4th quarter valued at about $42,000. Finally, Erste Asset Management GmbH acquired a new stake in Veralto in the 3rd quarter valued at about $46,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Up 1.1 %

Veralto stock opened at $99.88 on Tuesday. The company’s 50 day simple moving average is $102.92 and its 200 day simple moving average is $106.34. Veralto Co. has a fifty-two week low of $81.23 and a fifty-two week high of $115.00. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 4.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.11 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is presently 13.17%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VLTO shares. Royal Bank of Canada lowered their price objective on shares of 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 issued a “buy” rating and a $125.00 price objective for the company. Citigroup lowered their price target 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 lowered their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.55.

About Veralto

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.