WealthPLAN Partners LLC Purchases 424 Shares of Veralto Co. (NYSE:VLTO)

WealthPLAN Partners LLC lifted its position in shares of Veralto Co. (NYSE:VLTO) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,236 shares of the company’s stock after purchasing an additional 424 shares during the period. WealthPLAN Partners LLC’s holdings in Veralto were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Mexico Educational Retirement Board grew its holdings in Veralto by 10.3% during the 4th quarter. New Mexico Educational Retirement Board now owns 11,811 shares of the company’s stock worth $1,203,000 after acquiring an additional 1,100 shares during the last quarter. Figure 8 Investment Strategies LLC bought a new stake in shares of Veralto in the fourth quarter worth $1,446,000. Vontobel Holding Ltd. increased its holdings in Veralto by 4.5% in the fourth quarter. Vontobel Holding Ltd. now owns 549,428 shares of the company’s stock valued at $55,959,000 after purchasing an additional 23,768 shares during the period. Van ECK Associates Corp increased its holdings in Veralto by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 89,227 shares of the company’s stock valued at $9,088,000 after purchasing an additional 6,321 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Veralto by 106.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 24,520 shares of the company’s stock worth $2,466,000 after purchasing an additional 12,662 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VLTO. Stifel Nicolaus decreased their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Royal Bank of Canada dropped their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $112.55.

Veralto Trading Down 1.7 %

Shares of Veralto stock opened at $98.04 on Friday. The stock has a market capitalization of $24.25 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06. Veralto Co. has a 52 week low of $83.34 and a 52 week high of $115.00. The stock has a 50 day moving average price of $102.37 and a two-hundred day moving average price of $106.21. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.87 and a current ratio of 1.92.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS 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%. As a group, equities analysts anticipate that Veralto Co. will post 3.63 earnings per share for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.11 dividend. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

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.