Arcadia Investment Management Corp MI Sells 146 Shares of Veralto Co. (NYSE:VLTO)

Arcadia Investment Management Corp MI cut its stake in shares of Veralto Co. (NYSE:VLTO) by 10.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,190 shares of the company’s stock after selling 146 shares during the period. Arcadia Investment Management Corp MI’s holdings in Veralto were worth $121,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning grew its holdings in Veralto by 2.9% during the 3rd quarter. Creative Planning now owns 26,186 shares of the company’s stock worth $2,929,000 after acquiring an additional 726 shares during the last quarter. Blue Trust Inc. grew its holdings in Veralto by 17.4% during the 3rd quarter. Blue Trust Inc. now owns 2,220 shares of the company’s stock worth $248,000 after acquiring an additional 329 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Veralto by 10.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,858 shares of the company’s stock worth $1,326,000 after acquiring an additional 1,103 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Veralto by 4.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,626 shares of the company’s stock worth $629,000 after purchasing an additional 220 shares during the period. 91.28% of the stock is owned by institutional investors.

Veralto Trading Up 0.0 %

Shares of VLTO opened at $97.72 on Friday. The firm’s 50 day simple moving average is $101.70 and its 200 day simple moving average is $105.99. The company has a market capitalization of $24.17 billion, a P/E ratio of 29.26, a P/E/G ratio of 4.24 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 1.69. Veralto Co. has a 1-year low of $83.34 and a 1-year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

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

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped 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 report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $112.55.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction 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 sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.