Intech Investment Management LLC lowered its holdings in shares of Veralto Corporation (NYSE:VLTO – Free Report) by 64.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 124,951 shares of the company’s stock after selling 224,293 shares during the period. Intech Investment Management LLC’s holdings in Veralto were worth $13,321,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of VLTO. Compass Wealth Management LLC acquired a new stake in Veralto during the 3rd quarter valued at approximately $6,708,000. Capital Advisors Inc. OK raised its position in shares of Veralto by 6.3% in the 3rd quarter. Capital Advisors Inc. OK now owns 380,910 shares of the company’s stock worth $40,609,000 after acquiring an additional 22,464 shares in the last quarter. Spire Wealth Management increased its holdings in Veralto by 1,579.5% in the third quarter. Spire Wealth Management now owns 12,311 shares of the company’s stock worth $1,312,000 after purchasing an additional 11,578 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Veralto in the 3rd quarter valued at $1,919,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Veralto by 8.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,159,417 shares of the company’s stock valued at $123,605,000 after purchasing an additional 94,607 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Veralto Stock Up 3.8%
VLTO stock opened at $98.00 on Friday. The firm has a market capitalization of $24.29 billion, a PE ratio of 26.13, a P/E/G ratio of 2.70 and a beta of 0.89. The company has a quick ratio of 1.52, a current ratio of 1.67 and a debt-to-equity ratio of 0.64. Veralto Corporation has a twelve month low of $83.86 and a twelve month high of $110.11. The stock’s 50 day moving average is $98.32 and its 200-day moving average is $101.61.
Veralto Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.11. Veralto’s dividend payout ratio (DPR) is currently 13.87%.
Analyst Ratings Changes
VLTO has been the subject of several research reports. BMO Capital Markets restated an “outperform” rating on shares of Veralto in a research note on Wednesday, February 11th. Royal Bank Of Canada cut their price target on Veralto from $111.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, February 5th. Barclays restated an “overweight” rating and set a $117.00 price objective on shares of Veralto in a report on Thursday, February 5th. Citigroup cut their target price on Veralto from $111.00 to $104.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $118.00 price target on shares of Veralto in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $108.22.
Get Our Latest Analysis on VLTO
Insider Activity at Veralto
In related news, SVP Mattias Bystrom sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.73, for a total transaction of $101,730.00. Following the transaction, the senior vice president directly owned 31,430 shares of the company’s stock, valued at $3,197,373.90. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is currently owned by corporate insiders.
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. This segment provides water solutions, including chemical reagents, services, and digital solutions.
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