Veralto Co. (NYSE:VLTO) Stock Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Veralto Co. (NYSE:VLTO) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,352 shares of the company’s stock after selling 2,758 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Veralto were worth $9,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted 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 in the last quarter. Geode Capital Management LLC boosted its stake in Veralto by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Veralto by 34.6% during the 4th 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 in the last quarter. FMR LLC boosted its stake in shares of Veralto by 5.1% during the 3rd 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 in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Veralto by 0.4% during the 3rd 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 in the last quarter. 91.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on VLTO. Royal Bank of Canada reduced their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus reduced 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. Finally, Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.55.

Veralto Trading Down 3.2 %

Shares of NYSE:VLTO opened at $97.07 on Wednesday. Veralto Co. has a 52-week low of $85.90 and a 52-week high of $115.00. The company has a market cap of $24.03 billion, a P/E ratio of 29.06, a P/E/G ratio of 4.24 and a beta of 1.11. The stock’s 50-day moving average is $100.56 and its 200-day moving average is $105.13. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92.

Veralto (NYSE:VLTO) last released its earnings results 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%. Equities research analysts predict that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the firm’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 completion of the transaction, the senior vice president now owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,045,044.90. Following the transaction, the chief executive officer now owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This 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 valued at $1,150,366 over the last three months. 0.31% of the stock is owned by corporate insiders.

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.