NEOS Investment Management LLC Grows Holdings in Veralto Co. (NYSE:VLTO)

NEOS Investment Management LLC increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,034 shares of the company’s stock after acquiring an additional 2,484 shares during the period. NEOS Investment Management LLC’s holdings in Veralto were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VLTO. OFI Invest Asset Management bought a new stake in shares of Veralto in the 4th quarter worth approximately $26,000. BankPlus Trust Department bought a new stake in Veralto in the fourth quarter worth $29,000. Albion Financial Group UT increased its holdings in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Veralto in the 4th quarter worth about $42,000. Finally, Erste Asset Management GmbH bought a new position in Veralto in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $95.97 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $23.76 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The firm’s 50 day moving average price is $99.48 and its 200-day moving average price is $103.97. Veralto Co. has a twelve month low of $85.91 and a twelve month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping 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%. Equities research analysts expect that Veralto Co. will post 3.66 EPS for the current 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 given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 13.17%.

Insiders Place Their Bets

In other Veralto news, 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 value of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $10,486,173.60. This represents a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,881 shares of company stock worth $2,176,770 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group initiated coverage on Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus decreased their target price on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup reduced their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus price target of $113.50.

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.