Robertson Stephens Wealth Management LLC Has $389,000 Stake in Veralto Co. (NYSE:VLTO)

Robertson Stephens Wealth Management LLC trimmed its stake in Veralto Co. (NYSE:VLTO) by 11.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,811 shares of the company’s stock after selling 503 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Veralto were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Veralto in the 3rd quarter worth $25,000. Raleigh Capital Management Inc. grew its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Albion Financial Group UT grew its position in 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 purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Veralto in the 4th quarter worth $42,000. Finally, Erste Asset Management GmbH acquired a new stake in Veralto in the 3rd quarter worth $46,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VLTO. Citigroup reduced their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Royal Bank of Canada reduced 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. Finally, Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $112.55.

Veralto Trading Up 0.4 %

Shares of VLTO stock opened at $98.87 on Friday. Veralto Co. has a 12-month low of $81.23 and a 12-month high of $115.00. The company has a market capitalization of $24.45 billion, a P/E ratio of 30.52, a P/E/G ratio of 4.35 and a beta of 1.06. The firm has a 50-day moving average price of $103.10 and a 200 day moving average price of $106.25. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. Research analysts forecast that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.11 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s payout ratio is currently 13.58%.

About Veralto

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.