Edgewood Management LLC Purchases 200 Shares of Veralto Co. (NYSE:VLTO)

Edgewood Management LLC increased its position in shares of Veralto Co. (NYSE:VLTO) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,700 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Edgewood Management LLC’s holdings in Veralto were worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VLTO. Norges Bank acquired a new position in shares of Veralto during the fourth quarter worth $289,028,000. Nordea Investment Management AB grew its stake in 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 during the last quarter. State Street Corp increased its position in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares in the last quarter. Principal Financial Group Inc. raised its stake in Veralto by 207.2% in the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after buying an additional 757,389 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Veralto by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company’s stock worth $670,781,000 after acquiring an additional 733,056 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 463 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 of the company’s stock, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. 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 three months. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Veralto Trading Down 5.5 %

NYSE VLTO opened at $88.71 on Friday. The company has a fifty day moving average of $98.73 and a 200 day moving average of $103.48. The company has a market capitalization of $22.00 billion, a PE ratio of 26.56, a P/E/G ratio of 4.24 and a beta of 0.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a 1 year low of $86.04 and a 1 year 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, topping 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is 13.17%.

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.