Parsons Capital Management Inc. RI Buys 6,762 Shares of Veralto Co. (NYSE:VLTO)

Parsons Capital Management Inc. RI increased its stake in shares of Veralto Co. (NYSE:VLTO) by 95.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,841 shares of the company’s stock after buying an additional 6,762 shares during the period. Parsons Capital Management Inc. RI’s holdings in Veralto were worth $1,410,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. PEAK6 Investments LLC increased its stake in shares of Veralto by 246.3% during the 3rd quarter. PEAK6 Investments LLC now owns 8,733 shares of the company’s stock worth $977,000 after purchasing an additional 6,211 shares during the last quarter. Nordea Investment Management AB grew its holdings in Veralto by 34.6% during 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 period. Park Avenue Securities LLC increased its position in Veralto by 18.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after buying an additional 2,676 shares during the last quarter. Czech National Bank raised its stake in shares of Veralto by 6.5% in the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares during the period. Finally, Northstar Asset Management Inc. lifted its position in shares of Veralto by 22.5% during the 3rd quarter. Northstar Asset Management Inc. now owns 78,326 shares of the company’s stock valued at $8,762,000 after buying an additional 14,398 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group began coverage on shares of Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and a consensus price target of $113.18.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Veralto Trading Up 1.5 %

Shares of VLTO stock opened at $103.25 on Tuesday. Veralto Co. has a 52-week low of $75.05 and a 52-week high of $115.00. The business’s fifty day moving average is $103.97 and its 200 day moving average is $106.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The company has a market capitalization of $25.54 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06.

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Tuesday, December 31st. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 13.58%.

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.