Veralto Co. (NYSE:VLTO) Stock Position Lowered by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lessened its position in Veralto Co. (NYSE:VLTO) by 11.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,811 shares of the company’s stock after selling 503 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Veralto were worth $389,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Veralto in the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. lifted its position in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. Albion Financial Group UT lifted its position in Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after buying an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Veralto in the 4th quarter worth approximately $42,000. Finally, Erste Asset Management GmbH purchased a new stake in Veralto in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $98.87 on Friday. Veralto Co. has a 1 year low of $81.23 and a 1 year high of $115.00. The firm’s fifty day simple moving average is $103.10 and its 200 day simple moving average is $106.25. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $24.45 billion, a PE ratio of 30.52, a PEG ratio of 4.35 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 15.69% and a return on equity of 52.85%. On average, sell-side analysts anticipate that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VLTO shares. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. 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 report on Monday, January 13th. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada cut their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $112.55.

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.