OLD National Bancorp IN Lowers Holdings in Veralto Co. (NYSE:VLTO)

OLD National Bancorp IN lowered its position in shares of Veralto Co. (NYSE:VLTO) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,144 shares of the company’s stock after selling 249 shares during the period. OLD National Bancorp IN’s holdings in Veralto were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised 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 valued at $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. State Street Corp raised 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 worth $1,074,654,000 after buying an additional 860,608 shares in the last quarter. Principal Financial Group Inc. raised its stake in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after buying an additional 757,389 shares in the last quarter. Geode Capital Management LLC boosted its position in Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Veralto by 628.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 579,261 shares of the company’s stock valued at $58,998,000 after acquiring an additional 499,735 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Veralto Trading Down 0.3 %

Shares of Veralto stock opened at $103.49 on Monday. The firm’s 50 day simple moving average is $103.82 and its two-hundred day simple moving average is $106.29. The firm has a market capitalization of $25.59 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 4.32 and a beta of 1.06. Veralto Co. has a 12-month low of $75.05 and a 12-month high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VLTO shares. Citigroup decreased their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.18.

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.