Wealth Enhancement Advisory Services LLC Has $7.88 Million Position in Veralto Co. (NYSE:VLTO)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 70,415 shares of the company’s stock after buying an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Veralto were worth $7,877,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in Veralto by 32.9% during the second quarter. Canada Pension Plan Investment Board now owns 243,600 shares of the company’s stock valued at $23,256,000 after purchasing an additional 60,300 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of 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 buying an additional 1,009,170 shares during the last quarter. PEAK6 Investments LLC grew its stake in shares of Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after buying an additional 6,211 shares in the last quarter. Northstar Asset Management Inc. increased its holdings in Veralto by 22.5% during the third quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock worth $8,762,000 after buying an additional 14,398 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after acquiring an additional 15,048 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, 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 filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Veralto Price Performance

NYSE:VLTO opened at $100.10 on Monday. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00. 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 firm’s 50-day simple moving average is $104.19 and its 200 day simple moving average is $105.67. The firm has a market cap of $24.76 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 4.30 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion for 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 business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts predict that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets upped their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.27.

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.