Envestnet Portfolio Solutions Inc. Decreases Stock Position in Veralto Co. (NYSE:VLTO)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Veralto Co. (NYSE:VLTO) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,932 shares of the company’s stock after selling 587 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Veralto were worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC increased its position in shares of Veralto by 6.9% during the fourth quarter. Natixis Advisors LLC now owns 191,100 shares of the company’s stock worth $19,463,000 after acquiring an additional 12,403 shares during the period. Frank Rimerman Advisors LLC increased its holdings in Veralto by 7.8% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,023 shares of the company’s stock worth $512,000 after purchasing an additional 363 shares during the period. LBP AM SA bought a new stake in Veralto during the 4th quarter valued at $15,814,000. PGGM Investments lifted its holdings in shares of Veralto by 112.2% in the 4th quarter. PGGM Investments now owns 55,591 shares of the company’s stock worth $5,662,000 after buying an additional 29,397 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Veralto by 72.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 103,280 shares of the company’s stock worth $10,536,000 after buying an additional 43,313 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Melissa Aquino sold 463 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the transaction, the chief executive officer now owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock valued at $1,150,366 in the last three months. 0.31% of the stock is owned by insiders.

Veralto Price Performance

Shares of VLTO opened at $99.29 on Thursday. The company has a 50 day moving average of $100.11 and a two-hundred day moving average of $104.59. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. Veralto Co. has a twelve month low of $85.91 and a twelve month 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, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. As a group, analysts predict that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto’s dividend payout ratio (DPR) is currently 13.17%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VLTO shares. 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 reduced their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus dropped 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. Finally, Royal Bank of Canada reduced their price objective on shares of 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 four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.50.

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.