Cortland Associates Inc. MO Reduces Stock Holdings in Veralto Co. (NYSE:VLTO)

Cortland Associates Inc. MO lessened its position in shares of Veralto Co. (NYSE:VLTO) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,999 shares of the company’s stock after selling 752 shares during the quarter. Veralto accounts for 0.6% of Cortland Associates Inc. MO’s portfolio, making the stock its 25th largest position. Cortland Associates Inc. MO’s holdings in Veralto were worth $4,991,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto in the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its holdings in shares of Veralto by 692.3% during the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Albion Financial Group UT grew its holdings in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after buying an additional 336 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Veralto during the fourth quarter worth about $42,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Veralto during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VLTO. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus decreased their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Citigroup dropped their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.18.

Veralto Price Performance

Shares of VLTO opened at $102.81 on Thursday. The firm has a market capitalization of $25.42 billion, a PE ratio of 31.73, a PEG ratio of 4.31 and a beta of 1.06. The company’s 50-day moving average is $103.97 and its 200-day moving average is $106.24. Veralto Co. has a fifty-two week low of $75.05 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This is a positive change 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 (DPR) is currently 13.58%.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

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.