Dakota Wealth Management Sells 391 Shares of Veralto Co. (NYSE:VLTO)

Dakota Wealth Management decreased its holdings in Veralto Co. (NYSE:VLTO) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,545 shares of the company’s stock after selling 391 shares during the quarter. Dakota Wealth Management’s holdings in Veralto were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VLTO. Ashton Thomas Securities LLC purchased a new position in Veralto during the third quarter worth about $25,000. Goodman Advisory Group LLC bought a new position in shares of Veralto during the 2nd quarter worth approximately $26,000. Raleigh Capital Management Inc. boosted its stake in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after acquiring an additional 255 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of Veralto during the third quarter valued at approximately $46,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective 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 reduced their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Finally, Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and an average price target of $113.18.

Veralto Price Performance

VLTO stock opened at $101.79 on Friday. The firm has a 50 day moving average of $103.97 and a 200-day moving average of $106.02. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $25.17 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06. Veralto Co. has a 12 month low of $75.05 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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 fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction 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 owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

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.