Swiss National Bank Trims Stock Position in Veralto Co. (NYSE:VLTO)

Swiss National Bank lessened its stake in shares of Veralto Co. (NYSE:VLTO) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 698,069 shares of the company’s stock after selling 34,500 shares during the period. Swiss National Bank’s holdings in Veralto were worth $71,098,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Savant Capital LLC raised its position in Veralto by 0.5% during the 4th quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock valued at $2,055,000 after purchasing an additional 98 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after buying an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Veralto by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after acquiring an additional 100 shares in the last quarter. Allworth Financial LP lifted its stake in Veralto by 19.4% in the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after acquiring an additional 101 shares during the period. Finally, Insigneo Advisory Services LLC grew its holdings in Veralto by 1.8% during the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO opened at $98.05 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a 50-day moving average of $100.28 and a two-hundred day moving average of $104.86. The stock has a market cap of $24.27 billion, a P/E ratio of 29.36, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a one year low of $85.91 and a one year high of $115.00.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock worth $1,150,366 over the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VLTO shares. Stifel Nicolaus reduced 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. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Royal Bank of Canada dropped their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup reduced their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.50.

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.