FFT Wealth Management LLC Makes New $273,000 Investment in Veralto Co. (NYSE:VLTO)

FFT Wealth Management LLC purchased a new stake in shares of Veralto Co. (NYSE:VLTO) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,678 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors have also modified their holdings of VLTO. State Street Corp increased its holdings in Veralto by 9.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its position 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 valued at $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Nordea Investment Management AB increased 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 worth $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. FMR LLC raised its position in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after purchasing an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Veralto by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after buying an additional 11,430 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO opened at $99.70 on Thursday. Veralto Co. has a 52-week low of $85.70 and a 52-week high of $115.00. The company has a 50 day moving average of $101.25 and a two-hundred day moving average of $105.80. The company has a market cap of $24.66 billion, a P/E ratio of 29.85, a P/E/G ratio of 4.24 and a beta of 1.06. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

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

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. The trade was a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their price target 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 dropped their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Citigroup lowered their price target 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.55.

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.