Summit Trail Advisors LLC Buys 329 Shares of Veralto Co. (NYSE:VLTO)

Summit Trail Advisors LLC boosted its position in shares of Veralto Co. (NYSE:VLTO) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,655 shares of the company’s stock after purchasing an additional 329 shares during the period. Summit Trail Advisors LLC’s holdings in Veralto were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VLTO. State Street Corp grew its holdings in shares of Veralto by 9.8% during the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock worth $1,074,654,000 after buying an additional 860,608 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the last quarter. FMR LLC lifted its position 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 purchasing an additional 162,347 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in 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 last quarter. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VLTO has been the topic of several recent research reports. Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada decreased their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group began coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.55.

Veralto Stock Up 0.3 %

VLTO stock opened at $100.06 on Thursday. Veralto Co. has a 1-year low of $81.23 and a 1-year high of $115.00. The business’s 50 day simple moving average is $102.63 and its 200 day simple moving average is $106.30. The company has a current ratio of 1.92, a quick ratio of 1.87 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $24.75 billion, a PE ratio of 29.96, a PEG ratio of 4.21 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. As a group, research analysts anticipate that Veralto Co. will post 3.63 EPS for the current year.

Veralto Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is currently 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.