OVERSEA CHINESE BANKING Corp Ltd Sells 5,383 Shares of Veralto Co. (NYSE:VLTO)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in Veralto Co. (NYSE:VLTO) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,129 shares of the company’s stock after selling 5,383 shares during the period. Veralto makes up approximately 1.1% of OVERSEA CHINESE BANKING Corp Ltd’s portfolio, making the stock its 20th biggest holding. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.15% of Veralto worth $37,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Veralto during the 4th quarter valued at $26,000. BankPlus Trust Department purchased a new stake in Veralto during the fourth quarter valued at about $29,000. Albion Financial Group UT lifted its stake in Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $42,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Veralto by 35.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,467 shares of company stock valued at $1,150,366. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Veralto stock opened at $98.47 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The firm has a market cap of $24.38 billion, a P/E ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 1-year low of $85.91 and a 1-year high of $115.00. The firm has a 50-day moving average of $100.16 and a 200-day moving average of $104.62.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. Sell-side analysts expect that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is 13.17%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research reports. Stifel Nicolaus cut their target price 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 assumed coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Citigroup lowered 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 reduced their price objective 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $113.50.

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.