Mountain Pacific Investment Advisers LLC Boosts Holdings in Veralto Co. (NYSE:VLTO)

Mountain Pacific Investment Advisers LLC grew its holdings in Veralto Co. (NYSE:VLTO) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,558 shares of the company’s stock after purchasing an additional 3,459 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Veralto were worth $5,862,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Brown Brothers Harriman & Co. lifted its holdings in Veralto by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after purchasing an additional 99 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after buying an additional 100 shares during the period. Strategic Blueprint LLC boosted its position in Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock worth $268,000 after acquiring an additional 102 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after acquiring an additional 103 shares during the period. Finally, Graypoint LLC raised its holdings in Veralto by 2.4% in the 3rd quarter. Graypoint LLC now owns 4,514 shares of the company’s stock valued at $505,000 after acquiring an additional 107 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lowered their price objective on 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 began coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. 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 report on Friday, October 25th. Stifel Nicolaus cut their price target on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, BMO Capital Markets boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Six equities 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 stock presently has a consensus rating of “Hold” and a consensus price target of $113.27.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

Veralto Stock Down 1.0 %

Shares of Veralto stock opened at $102.98 on Tuesday. The company has a fifty day moving average price of $104.07 and a 200 day moving average price of $105.91. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. Veralto Co. has a twelve month low of $75.03 and a twelve month high of $115.00. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 4.00 and a beta of 1.06.

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

Veralto Increases Dividend

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

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.