Keybank National Association OH Cuts Position in Veralto Co. (NYSE:VLTO)

Keybank National Association OH lessened its stake in Veralto Co. (NYSE:VLTO) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,687 shares of the company’s stock after selling 5,253 shares during the quarter. Keybank National Association OH’s holdings in Veralto were worth $4,450,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VLTO. Farther Finance Advisors LLC increased its holdings in Veralto by 6.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,353 shares of the company’s stock valued at $263,000 after acquiring an additional 152 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Veralto by 66.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,475 shares of the company’s stock valued at $5,758,000 after acquiring an additional 20,639 shares in the last quarter. Van ECK Associates Corp increased its holdings in Veralto by 1.2% during the 3rd quarter. Van ECK Associates Corp now owns 82,906 shares of the company’s stock valued at $9,197,000 after acquiring an additional 951 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Veralto by 2.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 79,526 shares of the company’s stock valued at $8,896,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Intact Investment Management Inc. increased its holdings in Veralto by 66,000.0% during the 3rd quarter. Intact Investment Management Inc. now owns 661 shares of the company’s stock valued at $74,000 after acquiring an additional 660 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VLTO shares. 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 target price for the company. Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.55.

Veralto Price Performance

VLTO opened at $98.66 on Thursday. The company’s 50 day simple moving average is $100.87 and its 200 day simple moving average is $105.49. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto Co. has a 1 year low of $85.90 and a 1 year high of $115.00. The stock has a market capitalization of $24.42 billion, a PE ratio of 29.54, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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, sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is presently 13.17%.

Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 three months, insiders have sold 11,467 shares of company stock valued at $1,150,366. Insiders own 0.31% of the company’s stock.

Veralto 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.