WealthPLAN Partners LLC Raises Stock Holdings in Veralto Co. (NYSE:VLTO)

WealthPLAN Partners LLC boosted its holdings in Veralto Co. (NYSE:VLTO) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 14,236 shares of the company’s stock after acquiring an additional 424 shares during the period. WealthPLAN Partners LLC’s holdings in Veralto were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Veralto by 5.9% in the 3rd quarter. CWM LLC now owns 6,138 shares of the company’s stock worth $687,000 after buying an additional 343 shares during the last quarter. Creative Planning boosted its stake in Veralto by 2.9% in the third quarter. Creative Planning now owns 26,186 shares of the company’s stock valued at $2,929,000 after acquiring an additional 726 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Veralto by 112.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,278 shares of the company’s stock valued at $6,183,000 after acquiring an additional 29,313 shares during the period. Addison Capital Co increased its stake in shares of Veralto by 67.2% during the 3rd quarter. Addison Capital Co now owns 15,120 shares of the company’s stock worth $1,691,000 after purchasing an additional 6,077 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Veralto by 17.4% in the 3rd quarter. Blue Trust Inc. now owns 2,220 shares of the company’s stock worth $248,000 after purchasing an additional 329 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the transaction, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective 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, Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Price Performance

VLTO stock opened at $98.04 on Friday. The firm has a 50 day moving average of $102.37 and a 200-day moving average of $106.21. The firm has a market capitalization of $24.25 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. Veralto Co. has a 12 month low of $83.34 and a 12 month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, sell-side analysts predict that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm 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. 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 0.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio is currently 13.17%.

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.