Chesley Taft & Associates LLC Sells 202 Shares of Veralto Co. (NYSE:VLTO)

Chesley Taft & Associates LLC lessened its position in Veralto Co. (NYSE:VLTO) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,585 shares of the company’s stock after selling 202 shares during the period. Chesley Taft & Associates LLC’s holdings in Veralto were worth $365,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Veralto in the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Veralto during the second quarter worth $26,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 in the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Veralto during the third quarter worth about $46,000. Institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VLTO. Citigroup dropped their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus reduced their price objective on shares of Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Jefferies Financial Group assumed coverage on Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.27.

Veralto Price Performance

Shares of NYSE:VLTO opened at $103.02 on Wednesday. The company has a 50-day moving average price of $104.04 and a two-hundred day moving average price of $105.97. Veralto Co. has a twelve month low of $75.05 and a twelve month high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $25.48 billion, a PE ratio of 31.80, a P/E/G ratio of 4.32 and a beta of 1.06.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm earned $0.75 EPS. Veralto’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, December 31st. Veralto’s payout ratio is presently 13.58%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

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.