HFR Wealth Management LLC Has $1.20 Million Position in Veralto Co. (NYSE:VLTO)

HFR Wealth Management LLC reduced its position in shares of Veralto Co. (NYSE:VLTO) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,752 shares of the company’s stock after selling 144 shares during the period. HFR Wealth Management LLC’s holdings in Veralto were worth $1,197,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Veralto by 9.8% during the 3rd quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after purchasing an additional 860,608 shares during the period. Geode Capital Management LLC increased its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after acquiring an additional 1,009,170 shares during the last quarter. FMR LLC increased its stake in shares of Veralto by 5.1% in the third quarter. FMR LLC now owns 3,329,717 shares of the company’s stock worth $372,462,000 after acquiring an additional 162,347 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Veralto by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,885,996 shares of the company’s stock worth $322,827,000 after acquiring an additional 11,430 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Performance

Shares of NYSE:VLTO opened at $99.76 on Tuesday. The stock has a market capitalization of $24.70 billion, a PE ratio of 29.87, a P/E/G ratio of 4.24 and a beta of 1.06. Veralto Co. has a 1 year low of $85.90 and a 1 year high of $115.00. The firm has a fifty day moving average price of $101.06 and a 200 day moving average price of $105.60. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) 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%. Analysts expect that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. This is a boost from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, December 31st. Veralto’s dividend payout ratio is 13.17%.

Insider Buying and Selling at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the 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 completion of the sale, the senior vice president now owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,467 shares of company stock worth $1,150,366 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. 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 note on Monday, January 13th. Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Hold” and an average 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.