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

Harbor Investment Advisory LLC reduced its position in shares of Veralto Co. (NYSE:VLTO) by 6.3% during the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Corundum Group Inc. increased its position in Veralto by 5.8% in the fourth quarter. Corundum Group Inc. now owns 2,464 shares of the company’s stock worth $251,000 after buying an additional 135 shares during the period. City Holding Co. increased its position in Veralto by 8.6% in the fourth quarter. City Holding Co. now owns 20,248 shares of the company’s stock worth $2,062,000 after buying an additional 1,600 shares during the period. Hall Laurie J Trustee increased its position in Veralto by 10.1% in the fourth quarter. Hall Laurie J Trustee now owns 18,949 shares of the company’s stock worth $1,931,000 after buying an additional 1,738 shares during the period. HB Wealth Management LLC increased its position in Veralto by 20.6% in the fourth quarter. HB Wealth Management LLC now owns 3,724 shares of the company’s stock worth $379,000 after buying an additional 635 shares during the period. Finally, Trust Co. of Vermont increased its position in Veralto by 37.3% in the fourth quarter. Trust Co. of Vermont now owns 2,964 shares of the company’s stock worth $302,000 after buying an additional 806 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup dropped their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus lowered their price target on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.27.

Veralto Trading Down 0.3 %

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

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

Veralto Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s dividend payout ratio (DPR) is 13.58%.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Veralto 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.