PFG Investments LLC Sells 413 Shares of Veralto Co. (NYSE:VLTO)

PFG Investments LLC reduced its stake in Veralto Co. (NYSE:VLTO) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,276 shares of the company’s stock after selling 413 shares during the period. PFG Investments LLC’s holdings in Veralto were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of VLTO. Ashton Thomas Securities LLC bought a new position in shares of Veralto in the third quarter worth $25,000. Raleigh Capital Management Inc. increased its holdings in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the period. Albion Financial Group UT raised its position in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Veralto during the 4th quarter worth approximately $42,000. Finally, Versant Capital Management Inc boosted its position in shares of Veralto by 140.1% during the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VLTO. Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus dropped their target price on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.18.

Veralto Stock Performance

Shares of Veralto stock opened at $103.88 on Friday. The stock has a market cap of $25.69 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 4.31 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 Co. has a twelve month low of $75.05 and a twelve month high of $115.00. The company’s fifty day moving average is $103.92 and its 200 day moving average is $106.22.

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 paid a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s payout ratio is currently 13.58%.

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.