Veralto Co. (NYSE:VLTO) Shares Sold by Weil Company Inc.

Weil Company Inc. lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 86.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,507 shares of the company’s stock after selling 23,260 shares during the quarter. Weil Company Inc.’s holdings in Veralto were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FFT Wealth Management LLC bought a new stake in shares of Veralto in the 4th quarter worth about $273,000. Illinois Municipal Retirement Fund grew its stake in Veralto by 16.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 83,067 shares of the company’s stock worth $8,460,000 after purchasing an additional 11,580 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Veralto by 461.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 38,091 shares of the company’s stock valued at $3,880,000 after buying an additional 31,304 shares during the last quarter. Amalgamated Bank raised its stake in Veralto by 4.1% during the fourth quarter. Amalgamated Bank now owns 52,162 shares of the company’s stock valued at $5,313,000 after buying an additional 2,036 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in Veralto during the 4th quarter worth approximately $29,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Stock Performance

Shares of NYSE VLTO opened at $100.76 on Wednesday. Veralto Co. has a 12-month low of $85.70 and a 12-month high of $115.00. 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 company has a market cap of $24.92 billion, a PE ratio of 30.17, a P/E/G ratio of 4.24 and a beta of 1.06. The stock has a 50 day simple moving average of $101.28 and a 200-day simple moving average of $105.84.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Veralto Co. will post 3.66 EPS for the current 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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is 13.17%.

Insider Transactions at Veralto

In other news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VLTO shares. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. 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 research note on Monday, January 13th. Stifel Nicolaus reduced their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $112.55.

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.