Corebridge Financial Inc. Sells 850 Shares of Veralto Co. (NYSE:VLTO)

Corebridge Financial Inc. lessened its position in Veralto Co. (NYSE:VLTO) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,808 shares of the company’s stock after selling 850 shares during the quarter. Corebridge Financial Inc.’s holdings in Veralto were worth $6,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VLTO. OFI Invest Asset Management bought a new stake in Veralto in the fourth quarter worth about $26,000. BankPlus Trust Department bought a new stake in shares of Veralto during the 4th quarter worth approximately $29,000. Albion Financial Group UT boosted its holdings in Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares during the period. Geneos Wealth Management Inc. bought a new position in Veralto in the 4th quarter valued at $42,000. Finally, Raleigh Capital Management Inc. increased its stake in Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after purchasing an additional 109 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup reduced their target price 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. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.50.

Insider Transactions at Veralto

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

Veralto Trading Down 2.0 %

VLTO opened at $95.97 on Friday. Veralto Co. has a 12 month low of $85.91 and a 12 month high of $115.00. The stock has a fifty day moving average price of $99.48 and a 200-day moving average price of $104.01. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 4.24 and a beta of 1.11. 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 released 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%. As a group, equities research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 annualized dividend and a dividend yield of 0.46%. Veralto’s dividend payout ratio is presently 13.17%.

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.