MassMutual Private Wealth & Trust FSB Sells 856 Shares of Veralto Co. (NYSE:VLTO)

MassMutual Private Wealth & Trust FSB trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 23.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,748 shares of the company’s stock after selling 856 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Veralto were worth $280,000 at the end of the most recent quarter.

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

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Down 0.3 %

Shares of NYSE:VLTO opened at $102.73 on Thursday. The firm has a market cap of $25.41 billion, a P/E ratio of 31.71, a PEG ratio of 4.32 and a beta of 1.06. Veralto Co. has a 52-week low of $75.05 and a 52-week high of $115.00. The business’s 50 day simple moving average is $104.03 and its two-hundred day simple moving average is $106.02. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

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

Veralto Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. BMO Capital Markets lifted their target price 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. Citigroup cut their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus lowered their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto presently has a consensus rating of “Hold” and a consensus target price of $113.27.

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.