SRS Capital Advisors Inc. Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

SRS Capital Advisors Inc. raised its stake in Veralto Co. (NYSE:VLTO) by 16.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,929 shares of the company’s stock after buying an additional 1,676 shares during the period. SRS Capital Advisors Inc.’s holdings in Veralto were worth $1,215,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Savant Capital LLC boosted its position in Veralto by 0.5% in the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock valued at $2,055,000 after buying an additional 98 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Veralto by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Veralto by 19.4% in the 4th quarter. Allworth Financial LP now owns 622 shares of the company’s stock valued at $64,000 after purchasing an additional 101 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in shares of Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock valued at $645,000 after purchasing an additional 103 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on VLTO shares. Citigroup reduced their price target 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. Royal Bank of Canada reduced their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Stifel Nicolaus reduced their price target 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. 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, Veralto has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Trading Up 0.7 %

NYSE VLTO opened at $99.83 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm has a market cap of $24.71 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06. The company has a 50 day moving average price of $101.12 and a 200 day moving average price of $105.67. Veralto Co. has a 52 week low of $85.70 and a 52 week high of $115.00.

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

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. This is a positive change 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 dividend on an annualized basis and a yield of 0.44%. Veralto’s dividend payout ratio is presently 13.17%.

Insider Buying and Selling at Veralto

In other news, SVP Melissa Aquino sold 463 shares of the company’s 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 directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is owned by corporate insiders.

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.