MassMutual Private Wealth & Trust FSB Sells 856 Shares of Veralto Co. (NYSE:VLTO)

MassMutual Private Wealth & Trust FSB reduced its holdings in shares of Veralto Co. (NYSE:VLTO) by 23.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,748 shares of the company’s stock after selling 856 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Veralto were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. PEAK6 Investments LLC increased its holdings in shares of Veralto by 246.3% in the third quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after purchasing an additional 6,211 shares during the last quarter. Nordea Investment Management AB grew 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 buying an additional 1,009,170 shares during the last quarter. Northstar Asset Management Inc. raised its holdings in Veralto by 22.5% in the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after acquiring an additional 14,398 shares during the period. The Manufacturers Life Insurance Company lifted its position in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after acquiring an additional 15,048 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after acquiring an additional 3,284 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was 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 in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Down 0.3 %

Shares of VLTO opened at $102.73 on Thursday. The firm has a 50 day simple moving average of $104.03 and a two-hundred day simple moving average of $106.02. The company has a market cap of $25.41 billion, a P/E ratio of 31.71, a P/E/G ratio of 4.32 and a beta of 1.06. Veralto Co. has a one year low of $75.05 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

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

Veralto Increases Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is 13.58%.

Analysts Set New Price Targets

Several research firms recently weighed in on VLTO. Royal Bank of Canada lifted their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus decreased their price target 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. BMO Capital Markets raised their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Citigroup lowered 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. Six equities research 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 currently has an average rating of “Hold” and an average price target of $113.27.

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.