ELCO Management Co. LLC Trims Stock Position in Veralto Co. (NYSE:VLTO)

ELCO Management Co. LLC decreased its holdings in Veralto Co. (NYSE:VLTO) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,600 shares of the company’s stock after selling 524 shares during the quarter. ELCO Management Co. LLC’s holdings in Veralto were worth $367,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new position in Veralto in the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in Veralto during the 4th quarter worth approximately $26,000. BankPlus Trust Department purchased a new stake in shares of Veralto in the fourth quarter worth $29,000. Albion Financial Group UT raised its position in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after purchasing an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Veralto during the 4th quarter valued at $42,000. 91.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group started coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Citigroup dropped their price target on 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 reduced their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.50.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the transaction, the chief executive officer now directly owns 116,637 shares in the company, valued at approximately $11,495,742.72. This represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,471 shares of company stock valued at $2,234,030 over the last three months. 0.31% of the stock is owned by company insiders.

Veralto Price Performance

VLTO stock opened at $85.49 on Wednesday. Veralto Co. has a 52 week low of $84.00 and a 52 week high of $115.00. The firm has a market capitalization of $21.21 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The company has a fifty day simple moving average of $97.71 and a two-hundred day simple moving average of $103.00. 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 released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. 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 given a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.51%. Veralto’s dividend payout ratio is presently 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.