Veralto Co. (NYSE:VLTO) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC cut its stake in Veralto Co. (NYSE:VLTO) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,928 shares of the company’s stock after selling 2,164 shares during the period. Renaissance Investment Group LLC’s holdings in Veralto were worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of VLTO. State Street Corp raised its holdings in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after buying an additional 860,608 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after acquiring an additional 558,393 shares during the period. Nordea Investment Management AB raised its stake in Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. FMR LLC lifted its position in Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after acquiring an additional 162,347 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock valued at $322,827,000 after purchasing an additional 11,430 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Citigroup decreased their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. BMO Capital Markets increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada boosted their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.27.

Veralto Stock Down 1.0 %

VLTO stock opened at $102.98 on Friday. Veralto Co. has a one year low of $75.03 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm’s fifty day moving average is $104.07 and its 200 day moving average is $105.84. The firm has a market cap of $25.47 billion, a PE ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. On average, research analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio is presently 13.58%.

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.