Park National Corp OH Sells 661 Shares of Veralto Co. (NYSE:VLTO)

Park National Corp OH lessened its holdings in Veralto Co. (NYSE:VLTO) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 5,345 shares of the company’s stock after selling 661 shares during the period. Park National Corp OH’s holdings in Veralto were worth $544,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of VLTO. Nordea Investment Management AB boosted its holdings in Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. State Street Corp boosted its stake in shares of 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 period. Principal Financial Group Inc. grew its position in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares in the last quarter. Geode Capital Management LLC grew its position in Veralto by 10.5% during the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after buying an additional 558,393 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Veralto by 29.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock worth $208,511,000 after acquiring an additional 418,588 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

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

Veralto Stock Up 0.3 %

Shares of NYSE:VLTO opened at $101.91 on Thursday. 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 $25.20 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a fifty day moving average of $104.23 and a 200-day moving average of $105.59.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced 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 of this dividend is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is currently 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.