Veralto Co. (NYSE:VLTO) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lowered its stake in shares of Veralto Co. (NYSE:VLTO) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,795 shares of the company’s stock after selling 121 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Veralto were worth $183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 during the last quarter. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. FMR LLC grew its holdings in shares of Veralto by 5.1% during the 3rd quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after purchasing an additional 162,347 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Veralto by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after purchasing an additional 11,430 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Veralto stock opened at $102.73 on Thursday. The stock has a market cap of $25.41 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 4.32 and a beta of 1.06. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock has a 50 day moving average of $104.03 and a 200-day moving average of $106.02. Veralto Co. has a 52 week low of $75.05 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. On average, analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio is 13.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VLTO. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus decreased their target price on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price of $113.27.

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

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.