PFG Investments LLC Sells 413 Shares of Veralto Co. (NYSE:VLTO)

PFG Investments LLC lowered its stake in Veralto Co. (NYSE:VLTO) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,276 shares of the company’s stock after selling 413 shares during the quarter. PFG Investments LLC’s holdings in Veralto were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in 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 last quarter. State Street Corp boosted its stake in Veralto by 9.8% during the 3rd 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 during the last quarter. Principal Financial Group Inc. boosted its stake in Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after acquiring an additional 757,389 shares during the last quarter. Geode Capital Management LLC grew its holdings in Veralto by 10.5% during 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 during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Veralto by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock valued at $208,511,000 after purchasing an additional 418,588 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VLTO has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective 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. 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 decreased their price objective on Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.18.

Veralto Stock Up 1.0 %

Shares of VLTO stock opened at $103.88 on Friday. The firm’s fifty day moving average price is $103.92 and its two-hundred day moving average price is $106.22. Veralto Co. has a 1 year low of $75.05 and a 1 year high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $25.69 billion, a P/E ratio of 32.06, a PEG ratio of 4.31 and a beta of 1.06.

Veralto Increases Dividend

The business also recently declared 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 is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.42%. Veralto’s dividend payout ratio is 13.58%.

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.