Neville Rodie & Shaw Inc. Sells 121 Shares of Veralto Co. (NYSE:VLTO)

Neville Rodie & Shaw Inc. cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,255 shares of the company’s stock after selling 121 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Veralto were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in shares of Veralto by 4.0% during the 2nd quarter. TD Asset Management Inc now owns 396,442 shares of the company’s stock worth $37,848,000 after purchasing an additional 15,094 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Veralto by 8.8% during the 2nd quarter. Victory Capital Management Inc. now owns 95,854 shares of the company’s stock worth $9,151,000 after purchasing an additional 7,762 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Veralto by 5.2% during the 2nd quarter. Arizona State Retirement System now owns 67,724 shares of the company’s stock worth $6,466,000 after purchasing an additional 3,365 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Veralto by 7.0% during the 2nd quarter. Private Advisor Group LLC now owns 15,141 shares of the company’s stock worth $1,445,000 after purchasing an additional 988 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in shares of Veralto by 13.4% during the 2nd quarter. Candriam S.C.A. now owns 247,922 shares of the company’s stock worth $23,668,000 after purchasing an additional 29,253 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of analyst reports. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada increased their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $109.50.

Veralto Stock Up 0.6 %

Shares of VLTO traded up $0.57 during trading hours on Monday, reaching $101.37. 285,157 shares of the stock traded hands, compared to its average volume of 823,145. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $104.35 and a 200 day simple moving average of $105.59. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 4.30 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the firm earned $0.75 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.43%. Veralto’s payout ratio is currently 13.58%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

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.