Veralto Co. (NYSE:VLTO) Shares Acquired by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 6.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,558 shares of the company’s stock after acquiring an additional 3,459 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Veralto were worth $5,862,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Veralto during the third quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new stake in Veralto during the 2nd quarter worth $26,000. Fairscale Capital LLC purchased a new stake in Veralto in the second quarter valued at $30,000. Raleigh Capital Management Inc. lifted its position in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after acquiring an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

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

Veralto Price Performance

Shares of NYSE:VLTO opened at $102.98 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $104.07 and a 200 day moving average price of $105.91. Veralto Co. has a 52 week low of $75.03 and a 52 week high of $115.00. The company has a market cap of $25.47 billion, a P/E ratio of 31.78, a PEG ratio of 4.00 and a beta of 1.06.

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

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

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.