Royal London Asset Management Ltd. Sells 1,014 Shares of Veralto Co. (NYSE:VLTO)

Royal London Asset Management Ltd. lowered its holdings in Veralto Co. (NYSE:VLTO) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,663 shares of the company’s stock after selling 1,014 shares during the period. Royal London Asset Management Ltd. owned approximately 0.05% of Veralto worth $13,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department acquired a new position in shares of Veralto in the 4th quarter valued at approximately $29,000. Albion Financial Group UT raised its position in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Veralto in the 4th quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. increased its position in Veralto by 35.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after purchasing an additional 109 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Trading Down 0.6 %

Shares of NYSE VLTO opened at $97.56 on Friday. 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 Co. has a 52-week low of $85.91 and a 52-week high of $115.00. The firm has a 50 day moving average price of $99.98 and a two-hundred day moving average price of $104.40. The stock has a market cap of $24.15 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings results 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 net margin of 16.04% and a return on equity of 49.29%. As a group, equities analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the sale, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 590 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 transaction of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VLTO has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report 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 data from MarketBeat.com, the company 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.