Wealthfront Advisers LLC Buys 78,879 Shares of Veralto Co. (NYSE:VLTO)

Wealthfront Advisers LLC lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 1,065.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,282 shares of the company’s stock after acquiring an additional 78,879 shares during the quarter. Wealthfront Advisers LLC’s holdings in Veralto were worth $8,788,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in Veralto by 10.3% in the third quarter. Assetmark Inc. now owns 18,920 shares of the company’s stock worth $2,116,000 after purchasing an additional 1,768 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Veralto by 2.1% in the third quarter. Crossmark Global Holdings Inc. now owns 12,900 shares of the company’s stock worth $1,443,000 after purchasing an additional 261 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Veralto by 24.8% in the third quarter. Los Angeles Capital Management LLC now owns 6,787 shares of the company’s stock worth $759,000 after purchasing an additional 1,350 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Veralto in the third quarter worth $25,000. Finally, Apollon Wealth Management LLC lifted its stake in Veralto by 15.3% in the third quarter. Apollon Wealth Management LLC now owns 7,479 shares of the company’s stock worth $837,000 after purchasing an additional 995 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

VLTO has been the subject of several recent research reports. Citigroup lowered their price target 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. Royal Bank of Canada lowered their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.50.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $95.41 on Thursday. Veralto Co. has a 12 month low of $85.90 and a 12 month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $100.43 and a 200-day moving average price of $105.06. The company has a market cap of $23.62 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (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%. As a group, equities analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio is currently 13.17%.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % 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 90 days. 0.31% of the stock is owned by company insiders.

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.