Arcadia Investment Management Corp MI Cuts Stake in Veralto Co. (NYSE:VLTO)

Arcadia Investment Management Corp MI trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,190 shares of the company’s stock after selling 146 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Veralto were worth $121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Veralto during the third quarter worth about $25,000. Raleigh Capital Management Inc. increased its holdings in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares during the last quarter. Albion Financial Group UT increased its holdings in Veralto by 2,100.0% in the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Veralto in the fourth quarter valued at about $42,000. Finally, Versant Capital Management Inc increased its holdings in Veralto by 140.1% in the fourth quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock valued at $45,000 after buying an additional 255 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Veralto Trading Up 0.0 %

Shares of NYSE VLTO opened at $97.72 on Friday. The company’s 50 day simple moving average is $101.70 and its 200 day simple moving average is $105.99. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $24.17 billion, a P/E ratio of 29.26, a P/E/G ratio of 4.24 and a beta of 1.06. Veralto Co. has a fifty-two week low of $83.34 and a fifty-two week high of $115.00.

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, topping 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%. On average, analysts predict that Veralto Co. will post 3.66 EPS for the current year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio (DPR) is 13.17%.

Analyst Upgrades and Downgrades

VLTO has been the subject of several research analyst reports. Citigroup lowered their price objective on 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 started coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus decreased their target price on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Royal Bank of Canada decreased their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.