NBW Capital LLC Boosts Stake in Veralto Co. (NYSE:VLTO)

NBW Capital LLC raised its position in Veralto Co. (NYSE:VLTO) by 455.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,371 shares of the company’s stock after purchasing an additional 33,100 shares during the period. NBW Capital LLC’s holdings in Veralto were worth $4,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its position in shares of Veralto by 0.5% during the fourth quarter. Savant Capital LLC now owns 20,177 shares of the company’s stock worth $2,055,000 after purchasing an additional 98 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after purchasing an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Veralto by 1.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP lifted its position in shares of Veralto by 19.4% during the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after purchasing an additional 101 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in shares of Veralto by 1.8% during the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after purchasing an additional 103 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,467 shares of company stock worth $1,150,366 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Veralto Price Performance

Shares of NYSE:VLTO opened at $99.76 on Tuesday. The firm’s 50 day moving average is $101.06 and its two-hundred day moving average is $105.60. Veralto Co. has a 52 week low of $85.90 and a 52 week high of $115.00. The firm has a market capitalization of $24.70 billion, a P/E ratio of 29.87, a PEG ratio of 4.24 and a beta of 1.06. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 annualized dividend 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 presently 13.17%.

Analyst Ratings Changes

VLTO has been the topic of several research analyst reports. Stifel Nicolaus reduced their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. 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. Royal Bank of Canada cut 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. Finally, Jefferies Financial Group began coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has an average rating of “Hold” and a consensus target price of $112.55.

Veralto 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.