Burling Wealth Partners LLC Invests $2.06 Million in Veralto Co. (NYSE:VLTO)

Burling Wealth Partners LLC bought a new stake in Veralto Co. (NYSE:VLTO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,188 shares of the company’s stock, valued at approximately $2,056,000.

A number of other large investors have also recently bought and sold shares of VLTO. Vanguard Group Inc. boosted its holdings in shares of Veralto by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company’s stock valued at $2,989,011,000 after acquiring an additional 146,234 shares during the last quarter. Amundi lifted its position in Veralto by 2.3% during the fourth quarter. Amundi now owns 7,169,702 shares of the company’s stock valued at $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC boosted its holdings in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock valued at $670,781,000 after purchasing an additional 733,056 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Veralto by 1.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company’s stock worth $485,304,000 after purchasing an additional 54,795 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Veralto by 9.7% during the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company’s stock valued at $462,538,000 after buying an additional 401,228 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,471 shares of company stock worth $2,234,030. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VLTO. Royal Bank of Canada lowered their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus cut their target price on shares of Veralto from $110.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $111.10.

Veralto Price Performance

Shares of NYSE VLTO opened at $90.61 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a fifty day moving average of $95.24 and a 200 day moving average of $101.34. The firm has a market cap of $22.48 billion, a PE ratio of 27.13, a PEG ratio of 4.24 and a beta of 0.97. Veralto Co. has a one year low of $83.87 and a one year high of $115.00.

Veralto (NYSE:VLTO) last released its 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 net margin of 16.04% and a return on equity of 49.29%. As a group, research analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio is currently 13.17%.

Veralto Company 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.