Sterling Capital Management LLC Buys 2,637 Shares of Veralto Co. (NYSE:VLTO)

Sterling Capital Management LLC grew its stake in Veralto Co. (NYSE:VLTO) by 36.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,866 shares of the company’s stock after buying an additional 2,637 shares during the period. Sterling Capital Management LLC’s holdings in Veralto were worth $1,005,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Veralto in the 4th quarter worth approximately $289,028,000. Nordea Investment Management AB lifted its stake in shares of Veralto by 34.6% in the fourth 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 last quarter. Principal Financial Group Inc. lifted its stake in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Veralto by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after buying an additional 733,056 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Veralto in the 4th quarter worth $51,986,000. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of Veralto 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 directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’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 owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,471 shares of company stock valued at $2,234,030. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

VLTO opened at $90.06 on Wednesday. The stock’s 50 day simple moving average is $96.46 and its 200-day simple moving average is $102.19. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a market cap of $22.34 billion, a PE ratio of 26.97, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00.

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

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is 13.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VLTO. Royal Bank of Canada decreased 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. Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Stifel Nicolaus dropped their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.90.

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.