Ieq Capital LLC Grows Stock Holdings in Veralto Co. (NYSE:VLTO)

Ieq Capital LLC lifted its position in shares of Veralto Co. (NYSE:VLTO) by 115.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,770 shares of the company’s stock after purchasing an additional 5,769 shares during the period. Ieq Capital LLC’s holdings in Veralto were worth $1,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Veralto during the 3rd quarter valued at $25,000. Albion Financial Group UT boosted its position in shares of 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 in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Veralto in the fourth quarter worth $42,000. Raleigh Capital Management Inc. raised its holdings in 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 purchasing an additional 109 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Veralto by 140.1% during 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 period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

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

Veralto Price Performance

Veralto stock opened at $100.04 on Tuesday. The firm’s fifty day moving average is $101.33 and its 200 day moving average is $105.88. 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 company has a market cap of $24.74 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 4.24 and a beta of 1.06. Veralto Co. has a 52-week low of $85.70 and a 52-week high of $115.00.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share 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%. Sell-side analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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. 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 0.44%. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

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.