Everence Capital Management Inc. Trims Stock Position in Veralto Co. (NYSE:VLTO)

Everence Capital Management Inc. decreased its position in Veralto Co. (NYSE:VLTO) by 53.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,064 shares of the company’s stock after selling 10,500 shares during the period. Everence Capital Management Inc.’s holdings in Veralto were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VLTO. State Street Corp lifted its position in Veralto by 9.8% in 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares during the last quarter. FMR LLC lifted its holdings in shares of Veralto by 5.1% in the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after acquiring an additional 162,347 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Veralto by 0.4% during the 3rd 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 period. Finally, JPMorgan Chase & Co. increased its holdings in Veralto by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock valued at $273,906,000 after purchasing an additional 314,412 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the 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 directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Up 0.2 %

Shares of Veralto stock opened at $100.80 on Friday. 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 $73.91 and a 52-week high of $115.00. The company has a market capitalization of $24.93 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.30 and a beta of 1.06. The company has a 50 day moving average of $104.35 and a 200 day moving average of $105.53.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. As a group, research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.11 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is presently 13.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus lowered their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Veralto has an average rating of “Moderate Buy” and an average target price of $109.50.

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.