Mirova US LLC Sells 31,201 Shares of Veralto Co. (NYSE:VLTO)

Mirova US LLC lowered its holdings in shares of Veralto Co. (NYSE:VLTO) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,032,125 shares of the company’s stock after selling 31,201 shares during the quarter. Veralto accounts for about 1.3% of Mirova US LLC’s portfolio, making the stock its 29th biggest position. Mirova US LLC owned about 0.42% of Veralto worth $105,122,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB boosted its stake in Veralto by 34.6% in 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 period. State Street Corp boosted its holdings in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after acquiring an additional 860,608 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in 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 acquiring an additional 757,389 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Veralto during the fourth quarter valued at approximately $51,986,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Veralto stock opened at $98.42 on Tuesday. 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 $24.36 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The firm has a 50 day simple moving average of $100.22 and a 200-day simple moving average of $104.72. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00.

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

Veralto Dividend Announcement

The company 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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio is presently 13.17%.

Insider Activity

In related news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at $849,964.50. This represents a 6.51 % 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, CEO Jennifer Honeycutt sold 10,414 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 $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at $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. Insiders sold a total of 11,467 shares of company stock valued at $1,150,366 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VLTO shares. Jefferies Financial Group began 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. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada dropped their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.50.

Veralto Company 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.