Bank of New York Mellon Corp Has $381.96 Million Position in Veralto Co. (NYSE:VLTO)

Bank of New York Mellon Corp trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,750,244 shares of the company’s stock after selling 206,360 shares during the quarter. Bank of New York Mellon Corp’s holdings in Veralto were worth $381,962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Veralto by 34.6% during the 4th 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 during the period. State Street Corp raised its stake in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares during the period. Geode Capital Management LLC grew its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Veralto by 628.4% in the fourth 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 during the period. 91.28% of the stock is currently owned by institutional investors.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock valued at $1,150,366 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

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

Veralto Price Performance

Shares of VLTO opened at $99.70 on Thursday. The firm has a market cap of $24.66 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 4.24 and a beta of 1.06. Veralto Co. has a 52-week low of $85.70 and a 52-week high of $115.00. The business’s 50 day moving average price is $101.25 and its two-hundred day moving average price is $105.80. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. 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.