Palmer Knight Co Purchases 535 Shares of Veralto Co. (NYSE:VLTO)

Palmer Knight Co grew its stake in Veralto Co. (NYSE:VLTO) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,659 shares of the company’s stock after acquiring an additional 535 shares during the quarter. Palmer Knight Co’s holdings in Veralto were worth $780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. PEAK6 Investments LLC increased its stake in shares of Veralto by 246.3% in the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock valued at $977,000 after acquiring an additional 6,211 shares during the last quarter. Nordea Investment Management AB increased its stake in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after purchasing an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC increased its stake in Veralto by 18.4% during the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after purchasing an additional 2,676 shares in the last quarter. Czech National Bank increased its stake in Veralto by 6.5% during the 4th quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after purchasing an additional 3,284 shares in the last quarter. Finally, Northstar Asset Management Inc. increased its stake in Veralto by 22.5% during the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock worth $8,762,000 after purchasing an additional 14,398 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Surekha Trivedi sold 752 shares of the stock in a transaction that occurred 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 sale, the senior vice president now 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 filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Veralto Trading Down 0.6 %

NYSE VLTO opened at $102.81 on Thursday. The company has a market cap of $25.42 billion, a PE ratio of 31.73, a PEG ratio of 4.31 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. Veralto Co. has a 12 month low of $75.05 and a 12 month high of $115.00. The stock has a 50 day moving average of $103.97 and a 200-day moving average of $106.24.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is presently 13.58%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLTO. Citigroup lowered their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their target price on Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.18.

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.