WealthPlan Investment Management LLC Has $2.50 Million Position in Veralto Co. (NYSE:VLTO)

WealthPlan Investment Management LLC trimmed its position in Veralto Co. (NYSE:VLTO) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,546 shares of the company’s stock after selling 1,816 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Veralto were worth $2,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthPLAN Partners LLC lifted its stake in Veralto by 3.1% in the fourth quarter. WealthPLAN Partners LLC now owns 14,236 shares of the company’s stock valued at $1,450,000 after buying an additional 424 shares during the period. New Mexico Educational Retirement Board grew its stake in Veralto by 10.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 11,811 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,100 shares during the period. Figure 8 Investment Strategies LLC acquired a new stake in Veralto during the 4th quarter worth approximately $1,446,000. Vontobel Holding Ltd. raised its holdings in shares of Veralto by 4.5% during the fourth quarter. Vontobel Holding Ltd. now owns 549,428 shares of the company’s stock worth $55,959,000 after acquiring an additional 23,768 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Veralto by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 89,227 shares of the company’s stock valued at $9,088,000 after purchasing an additional 6,321 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of NYSE VLTO opened at $98.04 on Friday. 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 50 day moving average is $102.37 and its 200-day moving average is $106.21. Veralto Co. has a 1-year low of $83.34 and a 1-year high of $115.00. The firm has a market cap of $24.25 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS 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%. Equities research analysts predict that Veralto Co. will post 3.63 earnings per share for the current year.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s payout ratio is 13.17%.

Insider Buying and Selling

In other news, SVP Melissa Aquino sold 463 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup reduced their price objective 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. Stifel Nicolaus cut their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.55.

Veralto Company 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.