Farther Finance Advisors LLC Raises Stock Holdings in Veralto Co. (NYSE:VLTO)

Farther Finance Advisors LLC lifted its holdings in shares of Veralto Co. (NYSE:VLTO) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,605 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Farther Finance Advisors LLC’s holdings in Veralto were worth $265,000 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 position in shares of Veralto by 246.3% during the third 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 grew its holdings in Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. Park Avenue Securities LLC grew its holdings in Veralto by 18.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after purchasing an additional 2,676 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Veralto by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after purchasing an additional 15,048 shares during the period. Finally, Czech National Bank grew its holdings in Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after purchasing an additional 3,284 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,467 shares of company stock valued at $1,150,366. Company insiders own 0.31% of the company’s stock.

Veralto Price Performance

NYSE:VLTO opened at $98.47 on Wednesday. The firm has a market capitalization of $24.38 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto Co. has a 52-week low of $85.91 and a 52-week high of $115.00. The stock has a fifty day moving average of $100.16 and a 200 day moving average of $104.62. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

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

Veralto Announces Dividend

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

Analysts Set New Price Targets

VLTO has been the subject of several research reports. Stifel Nicolaus reduced their price objective on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Royal Bank of Canada cut 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 four have issued a buy rating to the company’s stock. According to MarketBeat, Veralto presently has a consensus rating of “Hold” and a consensus price target 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.