Blue Trust Inc. Increases Stake in Veralto Co. (NYSE:VLTO)

Blue Trust Inc. lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 68.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,739 shares of the company’s stock after purchasing an additional 1,519 shares during the period. Blue Trust Inc.’s holdings in Veralto were worth $418,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in shares of Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after buying an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after purchasing an additional 100 shares during the period. Strategic Blueprint LLC lifted its position in Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares during the period. Finally, Graypoint LLC grew its holdings in shares of Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VLTO shares. Royal Bank of Canada upped their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Jefferies Financial Group assumed coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus reduced their price target on Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.18.

Veralto Price Performance

VLTO opened at $103.49 on Friday. Veralto Co. has a 12-month low of $75.05 and a 12-month high of $115.00. The company has a market cap of $25.59 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 4.32 and a beta of 1.06. 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 stock has a fifty day simple moving average of $103.88 and a two-hundred day simple moving average of $106.20.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.11 per share. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is 13.58%.

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.