David Wealth Management LLC Takes Position in Veralto Co. (NYSE:VLTO)

David Wealth Management LLC purchased a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,944 shares of the company’s stock, valued at approximately $1,013,000. Veralto comprises about 0.8% of David Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $654,232,000 after acquiring an additional 558,393 shares during the period. Nordea Investment Management AB lifted its position in shares of Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after acquiring an additional 1,009,170 shares during the period. FMR LLC grew its holdings in shares of Veralto by 5.1% during the 3rd 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 increased its position in shares of Veralto by 0.4% in 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 period. 91.28% of the stock is currently owned by institutional investors.

Veralto Price Performance

Shares of VLTO opened at $99.85 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The stock has a market cap of $24.69 billion, a PE ratio of 29.89, a PEG ratio of 4.21 and a beta of 1.06. Veralto Co. has a 12-month low of $81.23 and a 12-month high of $115.00. The business has a 50-day simple moving average of $102.78 and a two-hundred day simple moving average of $106.34.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (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%. Analysts anticipate that Veralto Co. will post 3.63 earnings per share for the current fiscal 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 paid a $0.11 dividend. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio is currently 13.17%.

Analysts Set New Price Targets

VLTO has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective 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. Jefferies Financial Group assumed coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Citigroup lowered 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. Finally, Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.55.

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.