New York Life Investment Management LLC Buys 283 Shares of Veralto Co. (NYSE:VLTO)

New York Life Investment Management LLC increased its stake in Veralto Co. (NYSE:VLTO) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,095 shares of the company’s stock after acquiring an additional 283 shares during the quarter. New York Life Investment Management LLC’s holdings in Veralto were worth $3,371,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. FFT Wealth Management LLC bought a new stake in shares of Veralto in the 4th quarter valued at $273,000. Illinois Municipal Retirement Fund increased its stake in shares of Veralto by 16.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 83,067 shares of the company’s stock valued at $8,460,000 after acquiring an additional 11,580 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Veralto by 461.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 38,091 shares of the company’s stock valued at $3,880,000 after purchasing an additional 31,304 shares in the last quarter. Amalgamated Bank increased its stake in Veralto by 4.1% during the 4th quarter. Amalgamated Bank now owns 52,162 shares of the company’s stock valued at $5,313,000 after purchasing an additional 2,036 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in Veralto during the 4th quarter valued at $29,000. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 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 $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VLTO shares. Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada decreased their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Veralto currently has an average rating of “Hold” and a consensus price target of $112.55.

Veralto Price Performance

VLTO opened at $99.83 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 4.24 and a beta of 1.06. The firm’s fifty day moving average price is $101.12 and its two-hundred day moving average price is $105.69. Veralto Co. has a 1 year low of $85.70 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.11 dividend. This is an increase from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, December 31st. Veralto’s payout ratio is 13.17%.

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.