Reynders McVeigh Capital Management LLC Purchases 8,572 Shares of Veralto Co. (NYSE:VLTO)

Reynders McVeigh Capital Management LLC lifted its position in shares of Veralto Co. (NYSE:VLTO) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 294,691 shares of the company’s stock after acquiring an additional 8,572 shares during the period. Veralto accounts for about 1.6% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Veralto were worth $30,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. SageView Advisory Group LLC bought a new stake in shares of Veralto during the 4th quarter valued at $317,000. Sterling Capital Management LLC lifted its position in Veralto by 36.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,866 shares of the company’s stock valued at $1,005,000 after acquiring an additional 2,637 shares during the period. Heritage Trust Co bought a new stake in Veralto during the fourth quarter worth about $517,000. Argent Trust Co grew its holdings in Veralto by 29.3% in the fourth quarter. Argent Trust Co now owns 7,956 shares of the company’s stock worth $810,000 after purchasing an additional 1,805 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Veralto by 2.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 110,781 shares of the company’s stock valued at $11,283,000 after purchasing an additional 2,850 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Veralto news, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melissa Aquino sold 463 shares of Veralto 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 transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % 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 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Veralto Trading Up 1.1 %

NYSE:VLTO opened at $89.69 on Friday. The company has a market cap of $22.25 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company has a 50 day simple moving average of $96.73 and a two-hundred day simple moving average of $102.48. Veralto Co. has a 12 month low of $83.87 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. Research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on VLTO shares. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus lowered their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, 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 research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.