Rudius Management LP Buys 11,720 Shares of Veralto Co. (NYSE:VLTO)

Rudius Management LP grew its stake in Veralto Co. (NYSE:VLTO) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464,849 shares of the company’s stock after purchasing an additional 11,720 shares during the period. Veralto makes up about 58.4% of Rudius Management LP’s holdings, making the stock its largest holding. Rudius Management LP owned approximately 1.00% of Veralto worth $251,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of VLTO. Bernard Wealth Management Corp. acquired a new stake in shares of Veralto in the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in Veralto during the fourth quarter worth about $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto during the fourth quarter valued at $29,000. Albion Financial Group UT lifted its stake in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in Veralto in the fourth quarter valued at approximately $42,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLTO has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada decreased their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup cut their price target on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $111.90.

Insider Activity

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,471 shares of company stock worth $2,234,030. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

NYSE:VLTO opened at $90.64 on Tuesday. The stock has a fifty day moving average price of $96.63 and a 200-day moving average price of $102.28. The company has a market cap of $22.48 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 4.24 and a beta of 0.97. 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 fifty-two week low of $83.87 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last released 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%. As a group, equities analysts anticipate that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 13.17%.

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.