Keybank National Association OH Reduces Holdings in Veralto Co. (NYSE:VLTO)

Keybank National Association OH lowered its position in shares of Veralto Co. (NYSE:VLTO) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,687 shares of the company’s stock after selling 5,253 shares during the period. Keybank National Association OH’s holdings in Veralto were worth $4,450,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on VLTO. Citigroup dropped 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. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group began coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Veralto presently has an average rating of “Hold” and an average target price of $112.55.

Veralto Stock Down 0.2 %

VLTO stock opened at $98.66 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a 1-year low of $85.90 and a 1-year high of $115.00. The firm has a fifty day moving average price of $100.87 and a two-hundred day moving average price of $105.49. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 4.24 and a beta of 1.11.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is currently 13.17%.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,467 shares of company stock worth $1,150,366. Insiders own 0.31% of the company’s stock.

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.