SG Americas Securities LLC Buys 24,268 Shares of Veralto Co. (NYSE:VLTO)

SG Americas Securities LLC raised its position in Veralto Co. (NYSE:VLTOFree Report) by 501.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,104 shares of the company’s stock after buying an additional 24,268 shares during the period. SG Americas Securities LLC’s holdings in Veralto were worth $2,964,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after acquiring an additional 860,608 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Veralto by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the period. Nordea Investment Management AB boosted its position in shares of Veralto by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. FMR LLC grew its stake in shares of Veralto by 5.1% during the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after purchasing an additional 162,347 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Veralto by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after purchasing an additional 11,430 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Citigroup reduced their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.18.

Check Out Our Latest Analysis on Veralto

Veralto Price Performance

VLTO stock opened at $101.79 on Friday. The stock has a 50-day moving average price of $103.97 and a two-hundred day moving average price of $106.02. Veralto Co. has a 1 year low of $75.05 and a 1 year high of $115.00. The stock has a market cap of $25.17 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTOGet Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Equities analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This is a boost from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is currently 13.58%.

Insider Activity

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

About Veralto

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Veralto (NYSE:VLTO)

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