Veralto Co. (NYSE:VLTO) Holdings Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in shares of Veralto Co. (NYSE:VLTO) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,228 shares of the company’s stock after purchasing an additional 2,676 shares during the quarter. Park Avenue Securities LLC’s holdings in Veralto were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Veralto by 15.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock worth $1,438,000 after buying an additional 1,889 shares during the last quarter. Ayrshire Capital Management LLC boosted its stake in shares of Veralto by 1.9% during the 4th quarter. Ayrshire Capital Management LLC now owns 11,538 shares of the company’s stock valued at $1,175,000 after buying an additional 219 shares during the period. Eastern Bank lifted its stake in shares of Veralto by 0.3% in the 4th quarter. Eastern Bank now owns 79,816 shares of the company’s stock valued at $8,129,000 after purchasing an additional 257 shares during the last quarter. Cooper Financial Group lifted its stake in shares of Veralto by 7.5% in the 4th quarter. Cooper Financial Group now owns 8,543 shares of the company’s stock valued at $870,000 after purchasing an additional 598 shares during the last quarter. Finally, TT International Asset Management LTD raised its holdings in Veralto by 18.8% in the 4th quarter. TT International Asset Management LTD now owns 29,678 shares of the company’s stock worth $3,022,000 after acquiring an additional 4,695 shares during the period. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. BMO Capital Markets boosted 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. Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus reduced their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.27.

Veralto Price Performance

NYSE:VLTO opened at $102.98 on Friday. Veralto Co. has a 52 week low of $75.03 and a 52 week high of $115.00. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06. The firm’s 50-day simple moving average is $104.07 and its 200 day simple moving average is $105.84. 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 (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The firm 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. The ex-dividend date of this dividend 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 yield of 0.43%. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 752 shares of the business’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 transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Veralto 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.