New Mexico Educational Retirement Board Raises Position in Veralto Co. (NYSE:VLTO)

New Mexico Educational Retirement Board raised its holdings in Veralto Co. (NYSE:VLTO) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,811 shares of the company’s stock after purchasing an additional 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Veralto were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Figure 8 Investment Strategies LLC purchased a new position in Veralto during the fourth quarter worth about $1,446,000. Vontobel Holding Ltd. increased its position in shares of Veralto by 4.5% in the fourth quarter. Vontobel Holding Ltd. now owns 549,428 shares of the company’s stock valued at $55,959,000 after acquiring an additional 23,768 shares during the period. Van ECK Associates Corp raised its position in Veralto by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 89,227 shares of the company’s stock valued at $9,088,000 after purchasing an additional 6,321 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Veralto by 106.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 24,520 shares of the company’s stock valued at $2,466,000 after purchasing an additional 12,662 shares during the period. Finally, Capital Advisors Inc. OK increased its position in shares of Veralto by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 331,873 shares of the company’s stock valued at $33,801,000 after buying an additional 10,194 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.55.

Veralto Trading Down 1.7 %

Shares of VLTO stock opened at $98.04 on Tuesday. The company has a 50-day moving average of $102.20 and a two-hundred day moving average of $106.16. The firm has a market cap of $24.25 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. Veralto Co. has a 1-year low of $83.34 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, analysts predict that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, December 31st. 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 yield of 0.45%. Veralto’s dividend payout ratio is 13.17%.

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.