NEOS Investment Management LLC Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

NEOS Investment Management LLC raised its holdings in shares of Veralto Co. (NYSE:VLTO) by 29.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,034 shares of the company’s stock after acquiring an additional 2,484 shares during the quarter. NEOS Investment Management LLC’s holdings in Veralto were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VLTO. Thrivent Financial for Lutherans lifted its holdings in Veralto by 4.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,475 shares of the company’s stock worth $1,507,000 after purchasing an additional 560 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Veralto by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 163,227 shares of the company’s stock worth $18,259,000 after buying an additional 15,048 shares in the last quarter. FMR LLC lifted its holdings in shares of Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after buying an additional 162,347 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Veralto by 113.4% in the third quarter. Townsquare Capital LLC now owns 4,754 shares of the company’s stock valued at $532,000 after acquiring an additional 2,526 shares during the period. Finally, Glenmede Trust Co. NA grew its stake in Veralto by 8.5% during the third quarter. Glenmede Trust Co. NA now owns 5,947 shares of the company’s stock valued at $665,000 after acquiring an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 590 shares of the company’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 transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,881 shares of company stock valued at $2,176,770. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Veralto Price Performance

Shares of Veralto stock opened at $95.97 on Friday. The firm has a market capitalization of $23.76 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. 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 business’s 50-day moving average price is $99.48 and its 200-day moving average price is $103.97.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm 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. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.46%. Veralto’s payout ratio is 13.17%.

Veralto 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.