Kestra Private Wealth Services LLC Purchases 2,271 Shares of Veralto Co. (NYSE:VLTO)

Kestra Private Wealth Services LLC grew its position in Veralto Co. (NYSE:VLTO) by 22.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,281 shares of the company’s stock after acquiring an additional 2,271 shares during the period. Kestra Private Wealth Services LLC’s holdings in Veralto were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VLTO. Nordea Investment Management AB lifted its stake in shares of Veralto by 34.6% during 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 in the last quarter. State Street Corp raised its holdings in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the period. Principal Financial Group Inc. lifted its position in shares of Veralto by 207.2% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Veralto by 628.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 579,261 shares of the company’s stock worth $58,998,000 after purchasing an additional 499,735 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. 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. Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Royal Bank of Canada reduced their price target 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. Finally, Stifel Nicolaus dropped 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.55.

Veralto Stock Up 0.3 %

Shares of NYSE VLTO opened at $100.06 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12-month low of $81.23 and a 12-month high of $115.00. The firm’s 50-day moving average price is $102.63 and its 200-day moving average price is $106.30. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 4.21 and a beta of 1.06.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 return on equity of 49.29% and a net margin of 16.04%. On average, equities research analysts anticipate that Veralto Co. will post 3.63 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently disclosed 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 represents a $0.44 annualized dividend and a yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is presently 13.17%.

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.