Waterloo Capital L.P. Trims Holdings in Veralto Co. (NYSE:VLTO)

Waterloo Capital L.P. lowered its holdings in shares of Veralto Co. (NYSE:VLTO) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,907 shares of the company’s stock after selling 1,334 shares during the period. Waterloo Capital L.P.’s holdings in Veralto were worth $703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLTO. OFI Invest Asset Management acquired a new position in shares of Veralto in the fourth quarter valued at approximately $26,000. BankPlus Trust Department purchased a new position in Veralto in the 4th quarter valued at $29,000. Albion Financial Group UT increased its stake in 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 during the period. Geneos Wealth Management Inc. purchased a new position in Veralto during the 4th quarter worth $42,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after acquiring an additional 109 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus dropped their target price on 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 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, 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 on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Veralto has an average rating of “Hold” and a consensus target price of $113.50.

Veralto Stock Performance

Shares of VLTO stock opened at $88.71 on Monday. The stock has a fifty day moving average price of $98.73 and a 200 day moving average price of $103.45. 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 stock has a market cap of $22.00 billion, a PE ratio of 26.56, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a 1 year low of $86.04 and a 1 year 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 (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is 13.17%.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares in the company, valued at approximately $971,567.55. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now directly owns 104,496 shares of the company’s stock, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,471 shares of company stock valued at $2,234,030 over the last three months. 0.31% of the stock is currently owned by insiders.

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.