Allstate Corp Acquires Shares of 7,271 Veralto Co. (NYSE:VLTO)

Allstate Corp bought a new position in shares of Veralto Co. (NYSE:VLTO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,271 shares of the company’s stock, valued at approximately $741,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PEAK6 Investments LLC increased its holdings in Veralto by 246.3% during the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares during the period. Nordea Investment Management AB grew its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of 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 buying an additional 2,676 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Veralto by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock valued at $18,259,000 after acquiring an additional 15,048 shares in the last quarter. Finally, Czech National Bank lifted its stake in Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock worth $5,461,000 after acquiring an additional 3,284 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business’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 value of $59,206.50. Following the completion of the transaction, the senior vice president now directly owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the sale, the chief executive officer now directly owns 116,637 shares in the company, valued at $11,495,742.72. The trade was a 8.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,881 shares of company stock valued at $2,176,770. 0.31% of the stock is owned by insiders.

Veralto Stock Up 1.6 %

Veralto stock opened at $97.57 on Tuesday. The business’s 50-day simple moving average is $99.37 and its two-hundred day simple moving average is $103.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The company has a market cap of $24.15 billion, a PE ratio of 29.21, a PEG ratio of 4.24 and a beta of 1.11. Veralto Co. has a fifty-two week low of $85.91 and a fifty-two week high of $115.00.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on VLTO shares. Stifel Nicolaus cut their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada cut their price objective 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. Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Citigroup reduced their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto has an average rating of “Hold” and an average target price 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.