Veralto Co. (NYSE:VLTO) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC lowered its holdings in Veralto Co. (NYSE:VLTO) by 43.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 2,466 shares during the period. Cohen Klingenstein LLC’s holdings in Veralto were worth $326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Veralto during the 3rd quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in Veralto during the second quarter valued at about $26,000. Fairscale Capital LLC bought a new stake in Veralto during the 2nd quarter valued at approximately $30,000. Raleigh Capital Management Inc. boosted its holdings in Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.27.

Veralto Price Performance

NYSE:VLTO opened at $102.98 on Friday. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 3.88 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 12-month low of $75.03 and a 12-month high of $115.00. The stock’s 50 day moving average price is $104.07 and its two-hundred day moving average price is $105.76.

Veralto (NYSE:VLTO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

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.