Geneva Capital Management LLC Purchases 4,108 Shares of Veralto Co. (NYSE:VLTO)

Geneva Capital Management LLC boosted its position in shares of Veralto Co. (NYSE:VLTO) by 51.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,111 shares of the company’s stock after purchasing an additional 4,108 shares during the period. Geneva Capital Management LLC’s holdings in Veralto were worth $1,234,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VLTO. Nordea Investment Management AB lifted its holdings in 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 during the last quarter. State Street Corp lifted its holdings in 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in 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 during the last quarter. Geode Capital Management LLC lifted its holdings in 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Veralto during the 4th quarter valued at about $51,986,000. 91.28% of the stock is owned by institutional investors.

Veralto Stock Down 0.7 %

Shares of NYSE:VLTO opened at $97.88 on Friday. Veralto Co. has a one year low of $85.90 and a one year high of $115.00. The company has a 50 day moving average of $100.75 and a 200-day moving average of $105.43. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings results 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 net margin of 16.04% and a return on equity of 49.29%. On average, sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.11 per share. 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 payout ratio is 13.17%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock valued at $1,150,366 in the last 90 days. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VLTO. Citigroup lowered their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $112.55.

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.