Albion Financial Group UT Grows Stake in Veralto Co. (NYSE:VLTO)

Albion Financial Group UT lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 2,100.0% in the 4th quarter, HoldingsChannel reports. The firm owned 352 shares of the company’s stock after buying an additional 336 shares during the quarter. Albion Financial Group UT’s holdings in Veralto were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. State Street Corp boosted its position in Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after purchasing an additional 860,608 shares during the period. Principal Financial Group Inc. increased its stake in shares of Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after purchasing an additional 757,389 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 558,393 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Veralto by 29.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,864,038 shares of the company’s stock worth $208,511,000 after buying an additional 418,588 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

NYSE VLTO opened at $102.73 on Thursday. Veralto Co. has a 52-week low of $75.05 and a 52-week high of $115.00. The company has a fifty day moving average of $104.03 and a 200-day moving average of $106.02. The company has a market capitalization of $25.41 billion, a P/E ratio of 31.71, a P/E/G ratio of 4.33 and a beta of 1.06. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto’s payout ratio is presently 13.58%.

Analysts Set New Price Targets

Several research firms have issued reports on VLTO. Stifel Nicolaus dropped their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Citigroup cut their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada upped their target price on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.27.

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.