Wilmington Savings Fund Society FSB Sells 246 Shares of Veralto Co. (NYSE:VLTO)

Wilmington Savings Fund Society FSB reduced its stake in shares of Veralto Co. (NYSE:VLTO) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,337 shares of the company’s stock after selling 246 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Veralto were worth $2,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VLTO. Advisors Preferred LLC purchased a new position in shares of Veralto in the fourth quarter valued at about $421,000. Apollon Wealth Management LLC grew its stake in shares of Veralto by 32.2% in the fourth quarter. Apollon Wealth Management LLC now owns 9,886 shares of the company’s stock worth $1,007,000 after purchasing an additional 2,407 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Veralto by 39.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 77,217 shares of the company’s stock valued at $7,865,000 after purchasing an additional 21,939 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Veralto by 0.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 618,770 shares of the company’s stock worth $63,022,000 after buying an additional 5,145 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Veralto by 6.9% during the fourth quarter. Bleakley Financial Group LLC now owns 5,638 shares of the company’s stock valued at $574,000 after buying an additional 366 shares during the period. Institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

VLTO stock opened at $98.87 on Friday. The stock has a market capitalization of $24.45 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. The stock’s 50 day simple moving average is $102.92 and its 200 day simple moving average is $106.25. Veralto Co. has a 12-month low of $81.23 and a 12-month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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%. As a group, research analysts forecast that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is 13.17%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday. 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, Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. 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, Veralto presently has an average rating of “Hold” and a consensus target price of $112.55.

Veralto 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.