New Century Financial Group LLC Sells 495 Shares of Veralto Co. (NYSE:VLTO)

New Century Financial Group LLC lessened its holdings in Veralto Co. (NYSE:VLTO) by 19.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,047 shares of the company’s stock after selling 495 shares during the period. New Century Financial Group LLC’s holdings in Veralto were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Brown Brothers Harriman & Co. raised its stake in shares of Veralto by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after buying an additional 99 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $821,000 after acquiring an additional 100 shares during the period. Strategic Blueprint LLC lifted its holdings in Veralto by 4.5% during the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in shares of Veralto by 1.8% in the third quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after purchasing an additional 103 shares during the period. Finally, Graypoint LLC increased its stake in shares of Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VLTO. Stifel Nicolaus dropped their target price on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday. Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group initiated coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.18.

Veralto Price Performance

VLTO stock opened at $101.79 on Friday. Veralto Co. has a 52 week low of $75.05 and a 52 week high of $115.00. The firm has a market capitalization of $25.17 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06. The company has a fifty day simple moving average of $103.99 and a two-hundred day simple moving average of $105.98. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.