US Bancorp DE Cuts Stock Position in Veralto Co. (NYSE:VLTO)

US Bancorp DE lessened its stake in Veralto Co. (NYSE:VLTO) by 15.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,618 shares of the company’s stock after selling 6,963 shares during the quarter. US Bancorp DE’s holdings in Veralto were worth $3,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Veralto in the 3rd quarter worth $25,000. BankPlus Trust Department purchased a new stake in Veralto in the 4th quarter worth $29,000. Albion Financial Group UT increased its holdings in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Veralto in the 4th quarter worth $42,000. Finally, Raleigh Capital Management Inc. increased its holdings in Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus dropped their target price 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. Finally, Citigroup dropped their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.55.

Insider Buying and Selling at Veralto

In other Veralto 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 value of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer Honeycutt sold 10,414 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 $1,045,044.90. Following the completion of the transaction, 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 have sold 11,467 shares of company stock valued at $1,150,366 over the last 90 days. 0.31% of the stock is owned by insiders.

Veralto Trading Down 0.2 %

Shares of VLTO opened at $98.66 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12-month low of $85.90 and a 12-month high of $115.00. The firm has a 50-day moving average price of $100.87 and a 200 day moving average price of $105.49. The firm has a market capitalization of $24.42 billion, a P/E ratio of 29.54, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings data 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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

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.