RKL Wealth Management LLC Sells 878 Shares of Veralto Co. (NYSE:VLTO)

RKL Wealth Management LLC decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 30.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,028 shares of the company’s stock after selling 878 shares during the period. RKL Wealth Management LLC’s holdings in Veralto were worth $207,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter worth approximately $25,000. BankPlus Trust Department purchased a new position in shares of Veralto during the 4th quarter worth $29,000. Albion Financial Group UT increased its position in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Veralto during the 4th quarter worth about $42,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Veralto during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Veralto Stock Up 2.3 %

Shares of VLTO stock opened at $100.16 on Friday. Veralto Co. has a 1 year low of $85.90 and a 1 year high of $115.00. The stock has a market cap of $24.79 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The business’s fifty day moving average is $100.69 and its 200-day moving average is $105.34. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

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

Veralto Dividend Announcement

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

Insider Activity at Veralto

In other news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock worth $1,150,366 over the last three months. Company insiders own 0.31% of the company’s stock.

Veralto 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.