GAMMA Investing LLC Buys 263 Shares of Veralto Co. (NYSE:VLTO)

GAMMA Investing LLC increased its stake in Veralto Co. (NYSE:VLTO) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,216 shares of the company’s stock after purchasing an additional 263 shares during the quarter. GAMMA Investing LLC’s holdings in Veralto were worth $429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after purchasing an additional 860,608 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after buying an additional 558,393 shares during the period. FMR LLC grew its stake in Veralto by 5.1% in the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock valued at $372,462,000 after buying an additional 162,347 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after acquiring an additional 11,430 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Veralto by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock worth $273,906,000 after acquiring an additional 314,412 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Veralto Stock Performance

Veralto stock opened at $100.80 on Monday. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. 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 stock has a market cap of $24.93 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. The firm’s fifty day moving average price is $104.35 and its 200-day moving average price is $105.56.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts expect that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

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

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets raised their price objective 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. Finally, Stifel Nicolaus reduced their price objective on shares of 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 six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.50.

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.