Swedbank AB Cuts Stock Position in Veralto Co. (NYSE:VLTO)

Swedbank AB cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 35.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,375,136 shares of the company’s stock after selling 765,916 shares during the quarter. Swedbank AB owned about 0.56% of Veralto worth $140,058,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forsta AP Fonden increased its holdings in shares of Veralto by 0.7% during the 4th quarter. Forsta AP Fonden now owns 54,508 shares of the company’s stock worth $5,552,000 after buying an additional 400 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Veralto by 628.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 579,261 shares of the company’s stock valued at $58,998,000 after purchasing an additional 499,735 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Veralto by 50.4% in the 4th quarter. Sumitomo Life Insurance Co. now owns 14,594 shares of the company’s stock valued at $1,486,000 after buying an additional 4,890 shares during the period. Buffington Mohr McNeal increased its stake in shares of Veralto by 8.4% during the fourth quarter. Buffington Mohr McNeal now owns 4,109 shares of the company’s stock worth $419,000 after buying an additional 318 shares during the period. Finally, Parsons Capital Management Inc. RI grew its holdings in Veralto by 95.5% during the 4th quarter. Parsons Capital Management Inc. RI now owns 13,841 shares of the company’s stock worth $1,410,000 after acquiring an additional 6,762 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

VLTO traded up $0.31 during trading on Wednesday, reaching $103.76. 31,432 shares of the company were exchanged, compared to its average volume of 1,292,588. Veralto Co. has a 52 week low of $75.05 and a 52 week high of $115.00. 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 firm has a 50 day moving average of $103.97 and a 200 day moving average of $106.24. The stock has a market cap of $25.66 billion, a P/E ratio of 32.02, a PEG ratio of 4.31 and a beta of 1.06.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.11 per share. This is a boost 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 0.42%. Veralto’s payout ratio is presently 13.58%.

Analyst Ratings Changes

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

Insider Buying and Selling at Veralto

In other news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

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.