Veralto Co. (NYSE:VLTO) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in shares of Veralto Co. (NYSE:VLTO) by 40.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,233 shares of the company’s stock after selling 4,266 shares during the period. Douglas Lane & Associates LLC’s holdings in Veralto were worth $635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 558,393 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Veralto by 34.6% during 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 in the last quarter. FMR LLC increased its stake in shares of Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after buying an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after acquiring an additional 11,430 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 0.3 %

Shares of NYSE:VLTO opened at $101.91 on Thursday. The company’s 50-day moving average price is $104.23 and its 200 day moving average price is $105.59. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. The company has a market cap of $25.20 billion, a PE ratio of 31.45, a P/E/G ratio of 4.30 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. Sell-side analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

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

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the company’s 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 sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on VLTO shares. BMO Capital Markets raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Stifel Nicolaus lowered their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Veralto Company 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.