Alphinity Investment Management Pty Ltd Sells 4,377 Shares of Veralto Co. (NYSE:VLTO)

Alphinity Investment Management Pty Ltd trimmed its holdings in shares of Veralto Co. (NYSE:VLTO) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,062 shares of the company’s stock after selling 4,377 shares during the quarter. Alphinity Investment Management Pty Ltd’s holdings in Veralto were worth $4,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VLTO. Allspring Global Investments Holdings LLC lifted its position in shares of Veralto by 10.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,858 shares of the company’s stock worth $1,326,000 after purchasing an additional 1,103 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Veralto by 0.9% in the third quarter. Private Advisor Group LLC now owns 15,282 shares of the company’s stock valued at $1,709,000 after acquiring an additional 141 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Veralto by 23,720.1% in the third quarter. International Assets Investment Management LLC now owns 106,714 shares of the company’s stock valued at $11,937,000 after acquiring an additional 106,266 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Veralto by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 12,226 shares of the company’s stock valued at $1,368,000 after acquiring an additional 936 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Veralto by 12.1% in the third quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the company’s stock valued at $1,555,000 after acquiring an additional 1,500 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock worth $1,150,366 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $99.70 on Thursday. The company has a market capitalization of $24.66 billion, a PE ratio of 29.85, a P/E/G ratio of 4.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The company has a 50-day simple moving average of $101.25 and a two-hundred day simple moving average of $105.80. Veralto Co. has a one year low of $85.70 and a one year high of $115.00.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping 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%. Research analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The business 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. The ex-dividend date was Tuesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. This is an increase from Veralto’s previous quarterly dividend of $0.09. Veralto’s dividend payout ratio is 13.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VLTO. Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a “buy” 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 issued a “buy” rating and a $125.00 price objective for the company. Citigroup decreased 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target of $112.55.

About Veralto

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.