J.P. Marvel Investment Advisors LLC Sells 158 Shares of Veralto Co. (NYSE:VLTO)

J.P. Marvel Investment Advisors LLC trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,414 shares of the company’s stock after selling 158 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Veralto were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in shares of Veralto by 19.4% in the fourth quarter. Allworth Financial LP now owns 622 shares of the company’s stock worth $64,000 after acquiring an additional 101 shares during the period. Principal Securities Inc. boosted its holdings in shares of Veralto by 141.0% in the fourth quarter. Principal Securities Inc. now owns 8,180 shares of the company’s stock worth $833,000 after acquiring an additional 4,786 shares during the period. TigerOak Management L.L.C. bought a new position in shares of Veralto in the fourth quarter worth $231,000. WealthPLAN Partners LLC boosted its holdings in shares of Veralto by 3.1% in the fourth quarter. WealthPLAN Partners LLC now owns 14,236 shares of the company’s stock worth $1,450,000 after acquiring an additional 424 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Veralto by 10.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 11,811 shares of the company’s stock worth $1,203,000 after acquiring an additional 1,100 shares during the period. 91.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VLTO. Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus dropped their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price objective 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 Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.55.

Veralto Trading Down 1.7 %

NYSE VLTO opened at $98.04 on Friday. Veralto Co. has a twelve month low of $83.34 and a twelve month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock’s 50-day simple moving average is $102.20 and its two-hundred day simple moving average is $106.16. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 4.21 and a beta of 1.06.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Research analysts forecast that Veralto Co. will post 3.63 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 13.17%.

Insider Buying and Selling at Veralto

In other news, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.