Peapack Gladstone Financial Corp Has $575,000 Holdings in Veralto Co. (NYSE:VLTO)

Peapack Gladstone Financial Corp trimmed its position in Veralto Co. (NYSE:VLTO) by 48.6% in the fourth quarter, Holdings Channel reports. The fund owned 5,640 shares of the company’s stock after selling 5,339 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Veralto were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Veralto by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock worth $2,989,011,000 after acquiring an additional 146,234 shares during the last quarter. Amundi lifted its holdings in shares of Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock worth $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC grew its stake in shares of Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after purchasing an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Veralto by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock valued at $485,304,000 after purchasing an additional 54,795 shares during the period. Finally, Nordea Investment Management AB raised its position in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Price Performance

Veralto stock opened at $85.49 on Wednesday. The stock’s 50 day moving average price is $97.71 and its two-hundred day moving average price is $103.00. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.24 and a beta of 0.97. 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 52-week low of $84.00 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Insiders Place Their Bets

In related news, SVP Melissa Aquino sold 463 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,471 shares of company stock worth $2,234,030. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VLTO. Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Citigroup reduced their price objective 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.50.

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.