Community Financial Services Group LLC Buys 2,148 Shares of Veralto Co. (NYSE:VLTO)

Community Financial Services Group LLC boosted its holdings in Veralto Co. (NYSE:VLTO) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,729 shares of the company’s stock after buying an additional 2,148 shares during the quarter. Community Financial Services Group LLC’s holdings in Veralto were worth $5,269,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its holdings in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Albion Financial Group UT increased its holdings in shares of Veralto by 2,100.0% in the 4th 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. bought a new position in Veralto in the fourth quarter valued at $42,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Veralto during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $99.85 on Wednesday. The company has a fifty day simple moving average of $102.78 and a two-hundred day simple moving average of $106.34. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a market cap of $24.69 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. Veralto Co. has a 52 week low of $81.23 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data 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 return on equity of 49.29% and a net margin of 16.04%. As a group, equities analysts anticipate that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on VLTO shares. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $112.55.

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.