IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Position in Veralto Co. (NYSE:VLTO)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Veralto Co. (NYSE:VLTO) by 58.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,055 shares of the company’s stock after selling 12,801 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Veralto were worth $922,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VLTO. Thrivent Financial for Lutherans increased its position in Veralto by 4.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company’s stock valued at $1,507,000 after buying an additional 560 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Veralto by 34.3% during the third quarter. Cerity Partners LLC now owns 66,482 shares of the company’s stock valued at $7,437,000 after acquiring an additional 16,977 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Veralto by 562.3% in the 3rd quarter. Larson Financial Group LLC now owns 755 shares of the company’s stock worth $84,000 after purchasing an additional 641 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Veralto by 15.5% in the 3rd quarter. Centaurus Financial Inc. now owns 2,051 shares of the company’s stock worth $229,000 after purchasing an additional 276 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Veralto by 2.6% during 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 during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,881 shares of company stock worth $2,176,770 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Up 0.3 %

Veralto stock opened at $98.05 on Friday. The stock has a market cap of $24.27 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The stock has a fifty day moving average of $99.62 and a 200 day moving average of $104.11. Veralto Co. has a one year low of $85.91 and a one year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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 3.66 EPS for the current year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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%.

Analyst Upgrades and Downgrades

VLTO has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of 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 lowered their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Citigroup reduced their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group assumed coverage on Veralto in a report 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 company. According to MarketBeat, Veralto has a consensus rating of “Hold” and a consensus price target of $113.50.

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.