BankPlus Trust Department Takes $29,000 Position in Veralto Co. (NYSE:VLTO)

BankPlus Trust Department acquired a new position in shares of Veralto Co. (NYSE:VLTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 286 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto during the third quarter worth about $25,000. Albion Financial Group UT increased its stake in 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 in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Veralto during the 4th quarter worth approximately $42,000. Raleigh Capital Management Inc. lifted its stake in Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after buying an additional 109 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Stock Performance

VLTO opened at $100.76 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The business’s 50-day simple moving average is $101.28 and its 200 day simple moving average is $105.84. The firm has a market capitalization of $24.92 billion, a PE ratio of 30.17, a PEG ratio of 4.24 and a beta of 1.06. Veralto Co. has a 52-week low of $85.70 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last announced its quarterly earnings data 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, sell-side analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on VLTO. Stifel Nicolaus dropped their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped their target price on 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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 the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

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.