EverSource Wealth Advisors LLC Acquires 213 Shares of Veralto Co. (NYSE:VLTO)

EverSource Wealth Advisors LLC lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 25.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054 shares of the company’s stock after purchasing an additional 213 shares during the period. EverSource Wealth Advisors LLC’s holdings in Veralto were worth $107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VLTO. Nordea Investment Management AB boosted its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. State Street Corp boosted its position in shares of Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Veralto by 207.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after purchasing an additional 757,389 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Veralto during the 4th quarter valued at about $51,986,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research analyst reports. Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada dropped their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus dropped their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group assumed coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Veralto has an average rating of “Hold” and a consensus target price of $113.50.

Veralto Stock Performance

Shares of Veralto stock opened at $98.47 on Wednesday. The company has a market cap of $24.38 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The business has a 50 day moving average price of $100.16 and a 200-day moving average price of $104.62. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 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.