Bank of New York Mellon Corp Has $381.96 Million Stock Position in Veralto Co. (NYSE:VLTO)

Bank of New York Mellon Corp lessened its holdings in shares of Veralto Co. (NYSE:VLTO) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,750,244 shares of the company’s stock after selling 206,360 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.52% of Veralto worth $381,962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PEAK6 Investments LLC increased its holdings in shares of Veralto by 246.3% during the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after acquiring an additional 6,211 shares during the last quarter. Nordea Investment Management AB boosted its position in Veralto by 34.6% during the fourth 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 period. Park Avenue Securities LLC increased its holdings in shares of Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after purchasing an additional 2,676 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Veralto by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after purchasing an additional 15,048 shares during the period. Finally, Czech National Bank lifted its stake in shares of Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after buying an additional 3,284 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock valued at $1,150,366 over the last three months. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

NYSE:VLTO opened at $99.70 on Thursday. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 4.24 and a beta of 1.06. Veralto Co. has a fifty-two week low of $85.70 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a fifty day moving average price of $101.25 and a 200-day moving average price of $105.80.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 3.66 EPS 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 given a dividend of $0.11 per share. This is a positive change 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 dividend yield of 0.44%. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. 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. Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.55.

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.