HighPoint Advisor Group LLC Sells 489 Shares of Veralto Co. (NYSE:VLTO)

HighPoint Advisor Group LLC cut its holdings in Veralto Co. (NYSE:VLTO) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,670 shares of the company’s stock after selling 489 shares during the period. HighPoint Advisor Group LLC’s holdings in Veralto were worth $1,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PEAK6 Investments LLC increased its holdings in Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after acquiring an additional 6,211 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% in the fourth 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. Park Avenue Securities LLC raised its position in shares of Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after purchasing an additional 2,676 shares during the period. Czech National Bank lifted its stake in shares of Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Veralto by 15.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock worth $1,438,000 after buying an additional 1,889 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO stock opened at $97.61 on Wednesday. Veralto Co. has a 52 week low of $85.91 and a 52 week high of $115.00. The firm has a market capitalization of $24.16 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a fifty day simple moving average of $99.26 and a two-hundred day simple moving average of $103.77. The company has a quick ratio of 1.69, a current ratio of 1.92 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 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%. Analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

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 issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s payout ratio is presently 13.17%.

Insider Buying and Selling

In other news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction that occurred on 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 directly owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 21,881 shares of company stock worth $2,176,770 over the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup decreased their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their target price on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, 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 on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Veralto currently has an average rating of “Hold” and a consensus price target of $113.50.

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.