BankPlus Trust Department Buys Shares of 286 Veralto Co. (NYSE:VLTO)

BankPlus Trust Department bought a new position in Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 286 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also modified their holdings of VLTO. IFP Advisors Inc lifted its stake in Veralto by 64.5% in the 4th quarter. IFP Advisors Inc now owns 454 shares of the company’s stock worth $46,000 after acquiring an additional 178 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Veralto in the fourth quarter worth approximately $2,805,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Veralto by 25.7% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,957 shares of the company’s stock worth $7,431,000 after purchasing an additional 14,900 shares in the last quarter. Redmond Asset Management LLC boosted its holdings in shares of Veralto by 4.6% during the fourth quarter. Redmond Asset Management LLC now owns 17,938 shares of the company’s stock worth $1,827,000 after purchasing an additional 787 shares during the period. Finally, Transcend Capital Advisors LLC grew its position in Veralto by 37.2% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,375 shares of the company’s stock valued at $446,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The sale 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 company insiders.

Veralto Stock Performance

Shares of NYSE VLTO opened at $100.76 on Wednesday. The business’s 50-day simple moving average is $101.28 and its 200-day simple moving average is $105.84. Veralto Co. has a 52 week low of $85.70 and a 52 week high of $115.00. 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 market cap of $24.92 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 4.24 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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, equities research analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, December 31st. Veralto’s dividend payout ratio is 13.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VLTO shares. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus reduced their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. 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. Finally, Royal Bank of Canada reduced their price target on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.55.

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.