Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Veralto Co. (NYSE:VLTO)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Veralto Co. (NYSE:VLTO) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 198,202 shares of the company’s stock after selling 11,382 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Veralto were worth $20,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Veralto in the 4th quarter worth $26,000. BankPlus Trust Department purchased a new stake in Veralto in the 4th quarter worth $29,000. Albion Financial Group UT grew its position in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Veralto during the fourth quarter valued at approximately $42,000. Finally, Erste Asset Management GmbH purchased a new position in Veralto during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Trading Up 0.3 %

VLTO opened at $98.05 on Friday. 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’s 50 day moving average price is $99.62 and its 200-day moving average price is $104.11. Veralto Co. has a one year low of $85.91 and a one year high of $115.00. The stock has a market cap of $24.27 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings data 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 return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio is presently 13.17%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup decreased their target price 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. Royal Bank of Canada dropped their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $113.50.

Insider Activity at Veralto

In other news, 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 completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Surekha Trivedi sold 590 shares of the business’s 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 $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % 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 90 days. 0.31% of the stock is owned by corporate insiders.

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.