Veralto Co. (NYSE:VLTO) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,840 shares of the company’s stock after selling 3,871 shares during the period. Truist Financial Corp’s holdings in Veralto were worth $10,983,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto during the third quarter worth about $25,000. Raleigh Capital Management Inc. lifted its position in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares during the period. Albion Financial Group UT lifted its position in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Veralto in the fourth quarter valued at about $42,000. Finally, Versant Capital Management Inc lifted its position in Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. 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. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Royal Bank of Canada dropped their target price 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. Finally, 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Veralto presently has an average rating of “Hold” and a consensus target price of $112.55.

Veralto Stock Performance

NYSE:VLTO opened at $97.72 on Friday. 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 firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 4.25 and a beta of 1.06. The firm’s fifty day simple moving average is $101.70 and its 200 day simple moving average is $105.99. Veralto Co. has a twelve month low of $83.34 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. As a group, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.11 per share. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s payout ratio is 13.17%.

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.