David Wealth Management LLC Makes New Investment in Veralto Co. (NYSE:VLTO)

David Wealth Management LLC acquired a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, HoldingsChannel reports. The fund acquired 9,944 shares of the company’s stock, valued at approximately $1,013,000. Veralto makes up 0.8% of David Wealth Management LLC’s holdings, making the stock its 16th largest position.

Several other hedge funds also recently modified their holdings of VLTO. Nordea Investment Management AB grew its stake in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the period. PEAK6 Investments LLC grew its position in Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after purchasing an additional 6,211 shares during the period. Park Avenue Securities LLC increased its stake in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after purchasing an additional 2,676 shares in the last quarter. Czech National Bank raised its holdings in Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after buying an additional 3,284 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Veralto by 15.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock valued at $1,438,000 after buying an additional 1,889 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VLTO shares. Royal Bank of Canada decreased their target price 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, February 6th. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus decreased their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $112.55.

Veralto Stock Performance

Shares of Veralto stock opened at $99.85 on Wednesday. The firm has a market capitalization of $24.69 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $102.78 and its 200 day simple moving average is $106.34. Veralto Co. has a 12 month low of $81.23 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly 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 16.04% and a return on equity of 49.29%. As a group, analysts anticipate that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio is 13.17%.

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.