New York State Teachers Retirement System Lowers Stake in Veralto Co. (NYSE:VLTO)

New York State Teachers Retirement System reduced its position in shares of Veralto Co. (NYSE:VLTO) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,755 shares of the company’s stock after selling 585 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Veralto worth $20,243,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Figure 8 Investment Strategies LLC purchased a new position in Veralto in the 4th quarter valued at about $1,446,000. Vontobel Holding Ltd. lifted its stake in Veralto by 4.5% in the 4th quarter. Vontobel Holding Ltd. now owns 549,428 shares of the company’s stock valued at $55,959,000 after buying an additional 23,768 shares in the last quarter. Van ECK Associates Corp lifted its stake in Veralto by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 89,227 shares of the company’s stock valued at $9,088,000 after buying an additional 6,321 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Veralto by 106.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 24,520 shares of the company’s stock valued at $2,466,000 after buying an additional 12,662 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in Veralto by 3.2% in the 4th quarter. Capital Advisors Inc. OK now owns 331,873 shares of the company’s stock valued at $33,801,000 after buying an additional 10,194 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on 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 sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by insiders.

Veralto Stock Down 1.7 %

Shares of NYSE VLTO opened at $98.04 on Monday. The company has a 50 day simple moving average of $102.20 and a 200-day simple moving average of $106.16. The company has a market capitalization of $24.25 billion, a P/E ratio of 29.35, a P/E/G ratio of 4.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87. Veralto Co. has a 1 year low of $83.34 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, 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 announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date was Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 13.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VLTO. Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus cut their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Veralto has an average rating of “Hold” and a consensus price target of $112.55.

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.