Mirova US LLC Has $105.12 Million Stake in Veralto Co. (NYSE:VLTO)

Mirova US LLC lowered its stake in Veralto Co. (NYSE:VLTO) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,125 shares of the company’s stock after selling 31,201 shares during the period. Veralto accounts for 1.3% of Mirova US LLC’s portfolio, making the stock its 29th largest position. Mirova US LLC’s holdings in Veralto were worth $105,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. OFI Invest Asset Management bought a new position in shares of Veralto during the fourth quarter worth $26,000. BankPlus Trust Department bought a new stake in shares of Veralto during the 4th quarter worth about $29,000. Albion Financial Group UT boosted its holdings 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 purchasing an additional 336 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Veralto during the 4th quarter worth approximately $42,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Veralto by 35.3% during 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. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 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 $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of Veralto stock in a transaction 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 completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VLTO has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Citigroup cut their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veralto has a consensus rating of “Hold” and an average target price of $113.50.

Veralto Trading Up 0.5 %

NYSE VLTO opened at $98.42 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 12 month low of $85.91 and a 12 month high of $115.00. The company’s 50-day moving average price is $100.22 and its 200-day moving average price is $104.72. The stock has a market cap of $24.36 billion, a PE ratio of 29.47, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its quarterly earnings data 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 net margin of 16.04% and a return on equity of 49.29%. Equities research analysts forecast that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

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

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.