Mather Group LLC. Increases Stock Position in Veralto Co. (NYSE:VLTO)

Mather Group LLC. raised its holdings in Veralto Co. (NYSE:VLTO) by 22.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,086 shares of the company’s stock after purchasing an additional 198 shares during the quarter. Mather Group LLC.’s holdings in Veralto were worth $111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 558,393 shares during the period. Nordea Investment Management AB lifted its stake in shares of Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares during the period. FMR LLC increased its position in Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after purchasing an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Veralto by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after purchasing an additional 11,430 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Veralto stock opened at $98.87 on Friday. The firm has a market capitalization of $24.45 billion, a P/E ratio of 30.52, a PEG ratio of 4.35 and a beta of 1.06. The firm has a fifty day moving average of $103.10 and a 200-day moving average of $106.25. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 52-week low of $81.23 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. As a group, analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VLTO shares. Royal Bank of Canada dropped their price target 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. Stifel Nicolaus dropped 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. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Citigroup dropped 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. Six equities 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 currently 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.