Capital Group Private Client Services Inc. Sells 56,497 Shares of Veralto Co. (NYSE:VLTO)

Capital Group Private Client Services Inc. lowered its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 19.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,510 shares of the company's stock after selling 56,497 shares during the quarter. Capital Group Private Client Services Inc. owned approximately 0.10% of Veralto worth $23,987,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Veralto by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 29,347,185 shares of the company's stock worth $2,989,011,000 after acquiring an additional 146,234 shares during the period. Amundi lifted its holdings in Veralto by 2.3% in the fourth quarter. Amundi now owns 7,169,702 shares of the company's stock worth $731,084,000 after purchasing an additional 158,342 shares during the period. Geode Capital Management LLC grew its position in Veralto by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 6,601,676 shares of the company's stock valued at $670,781,000 after buying an additional 733,056 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Veralto by 1.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,764,889 shares of the company's stock valued at $485,304,000 after buying an additional 54,795 shares during the period. Finally, Invesco Ltd. raised its position in shares of Veralto by 9.7% during the 4th quarter. Invesco Ltd. now owns 4,541,367 shares of the company's stock worth $462,538,000 after buying an additional 401,228 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada lowered their price objective 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 cut their price objective on Veralto from $116.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on Veralto from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $111.10.

Veralto Stock Up 2.0 %

Shares of VLTO traded up $1.82 during mid-day trading on Wednesday, reaching $91.00. The company's stock had a trading volume of 719,424 shares, compared to its average volume of 1,484,164. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The business has a fifty day moving average of $95.39 and a 200 day moving average of $101.42.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, beating 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 forecast that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.48%. 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 business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Surekha Trivedi sold 590 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total transaction of $57,259.50. Following the completion of the sale, the senior vice president now owns 10,011 shares of the company's stock, valued at $971,567.55. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,471 shares of company stock worth $2,234,030 over the last 90 days. 0.36% of the stock is currently owned by corporate 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.