Veralto Co. (NYSE:VLTO) Stock Holdings Decreased by Truist Financial Corp

Truist Financial Corp lowered its stake in Veralto Co. (NYSE:VLTO) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 107,840 shares of the company’s stock after selling 3,871 shares during the period. Truist Financial Corp’s holdings in Veralto were worth $10,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PEAK6 Investments LLC increased its position in shares of Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after buying an additional 1,009,170 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after buying an additional 2,676 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Veralto by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after buying an additional 15,048 shares during the last quarter. Finally, Czech National Bank grew its position in shares of Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VLTO. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup lowered their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, 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 research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.55.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.0 %

Veralto stock opened at $97.72 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $101.70 and a two-hundred day moving average price of $105.99. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 4.25 and a beta of 1.06. Veralto Co. has a 52-week low of $83.34 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

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

About Veralto

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.