IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 12,801 Shares of Veralto Co. (NYSE:VLTO)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in Veralto Co. (NYSE:VLTO) by 58.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,055 shares of the company’s stock after selling 12,801 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Veralto were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Veralto by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock valued at $2,989,011,000 after buying an additional 146,234 shares in the last quarter. State Street Corp increased its stake in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Amundi raised its position in Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after purchasing an additional 158,342 shares in the last quarter. Geode Capital Management LLC lifted its stake in Veralto by 10.5% during the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Up 0.3 %

NYSE:VLTO opened at $98.05 on Friday. The firm has a market capitalization of $24.27 billion, a P/E ratio of 29.35, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average of $99.62 and a 200 day moving average of $104.11.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. On average, research analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s dividend payout ratio is presently 13.17%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on VLTO shares. Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Citigroup cut their price objective 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, Royal Bank of Canada decreased their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $113.50.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the sale, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,881 shares of company stock valued at $2,176,770 over the last quarter. 0.31% of the stock is owned by company insiders.

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.