Farther Finance Advisors LLC Grows Stock Position in Veralto Co. (NYSE:VLTO)

Farther Finance Advisors LLC lifted its stake in Veralto Co. (NYSE:VLTO) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,605 shares of the company’s stock after buying an additional 252 shares during the period. Farther Finance Advisors LLC’s holdings in Veralto were worth $265,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VLTO. Nordea Investment Management AB increased its holdings in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. State Street Corp increased its holdings in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after buying an additional 860,608 shares during the period. Principal Financial Group Inc. increased its holdings 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 worth $125,608,000 after buying an additional 757,389 shares during the period. Geode Capital Management LLC increased its holdings in Veralto by 10.5% during the 3rd 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 period. Finally, Raymond James Financial Inc. purchased a new position in Veralto during the 4th quarter valued at about $51,986,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 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. Insiders have sold a total of 11,467 shares of company stock valued at $1,150,366 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of research analyst reports. Citigroup reduced their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reduced their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.50.

Veralto Stock Performance

Shares of VLTO opened at $98.47 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average price is $100.16 and its 200-day moving average price is $104.62. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The stock has a market cap of $24.38 billion, a P/E ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 1.11.

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

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s dividend payout ratio is currently 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.