City Holding Co. Has $2.06 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

City Holding Co. boosted its position in Veralto Co. (NYSE:VLTO) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 20,248 shares of the company’s stock after acquiring an additional 1,600 shares during the period. City Holding Co.’s holdings in Veralto were worth $2,062,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Veralto during the third quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in Veralto in the 2nd quarter valued at $26,000. Fairscale Capital LLC acquired a new position in Veralto in the 2nd quarter valued at $30,000. Raleigh Capital Management Inc. increased its position in Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the period. Finally, Versant Capital Management Inc increased its position in Veralto by 140.1% during the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after buying an additional 255 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Citigroup dropped their price objective on 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Stock Performance

Shares of Veralto stock opened at $102.98 on Monday. The company’s 50 day moving average price is $104.07 and its two-hundred day moving average price is $105.91. The firm has a market capitalization of $25.47 billion, a P/E ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06. Veralto Co. has a fifty-two week low of $75.03 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, equities analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.11 dividend. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

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.