Veralto Co. (NYSE:VLTO) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its holdings in shares of Veralto Co. (NYSE:VLTO) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,388 shares of the company’s stock after selling 3,466 shares during the period. Veralto makes up about 1.0% of Meritage Portfolio Management’s investment portfolio, making the stock its 22nd largest holding. Meritage Portfolio Management owned about 0.06% of Veralto worth $15,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares in the last quarter. State Street Corp raised its holdings 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 in the last quarter. Principal Financial Group Inc. boosted its stake 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 in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 558,393 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Veralto by 628.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 579,261 shares of the company’s stock worth $58,998,000 after buying an additional 499,735 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Citigroup cut their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, 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 target on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target of $113.18.

Veralto Stock Performance

Shares of Veralto stock opened at $101.09 on Wednesday. Veralto Co. has a 12 month low of $75.05 and a 12 month high of $115.00. 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 stock has a market cap of $25.00 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 4.35 and a beta of 1.06. The business has a fifty day simple moving average of $103.54 and a 200-day simple moving average of $106.38.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 52.85% and a net margin of 15.69%. On average, sell-side analysts anticipate 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 was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 13.58%.

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.