Allstate Corp Invests $741,000 in Veralto Co. (NYSE:VLTO)

Allstate Corp bought a new stake in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,271 shares of the company’s stock, valued at approximately $741,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Veralto during the 4th quarter valued at $26,000. BankPlus Trust Department purchased a new position in Veralto during the fourth quarter valued at $29,000. Albion Financial Group UT grew its holdings in Veralto by 2,100.0% during the fourth 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. purchased a new stake in Veralto in the fourth quarter worth about $42,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Veralto by 35.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock worth $43,000 after buying an additional 109 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VLTO shares. Citigroup reduced their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada dropped their target price 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 price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.50.

Veralto Trading Up 1.6 %

Shares of Veralto stock opened at $97.57 on Tuesday. Veralto Co. has a twelve month low of $85.91 and a twelve month high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $99.37 and a 200-day moving average price of $103.85. The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities research analysts anticipate that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.45%. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction 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 directly owns 104,496 shares in the company, valued at $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the 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 sale, the senior vice president now directly owns 8,470 shares in the company, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,881 shares of company stock valued at $2,176,770 in the last three months. Corporate insiders own 0.31% of the company’s stock.

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.