Alliancebernstein L.P. Has $496.22 Million Stock Position in Veralto Co. (NYSE:VLTO)

Alliancebernstein L.P. lessened its stake in Veralto Co. (NYSE:VLTO) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 4,872,061 shares of the company’s stock after selling 102,447 shares during the quarter. Alliancebernstein L.P.’s holdings in Veralto were worth $496,219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VLTO. Norges Bank acquired a new stake in shares of Veralto in the fourth quarter valued at approximately $289,028,000. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares during the period. State Street Corp raised its position in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after acquiring an additional 757,389 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after acquiring an additional 558,393 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the sale, the chief executive officer now owns 116,637 shares in the company, valued at approximately $11,495,742.72. The trade was a 8.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,881 shares of company stock valued at $2,176,770. Company insiders own 0.31% of the company’s stock.

Veralto Stock Down 2.0 %

NYSE:VLTO opened at $95.97 on Monday. The stock has a market cap of $23.76 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 4.24 and a beta of 1.11. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $99.48 and a two-hundred day moving average price of $103.94. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last posted its 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 return on equity of 49.29% and a net margin of 16.04%. As a group, equities analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.46%. Veralto’s dividend payout ratio is currently 13.17%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Royal Bank of Canada cut their price objective 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. Citigroup lowered their target price 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, Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.50.

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.