Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Position in Veralto Co. (NYSE:VLTO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in Veralto Co. (NYSE:VLTO - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 622,962 shares of the company's stock after selling 20,274 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.25% of Veralto worth $47,775,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VLTO. Factory Mutual Insurance Co. purchased a new position in Veralto during the 4th quarter valued at about $9,260,000. State of Michigan Retirement System purchased a new position in Veralto during the 4th quarter valued at about $4,940,000. Asset Management One Co. Ltd. purchased a new position in Veralto during the 4th quarter valued at about $7,944,000. Vontobel Holding Ltd. purchased a new position in Veralto during the 4th quarter valued at about $60,495,000. Finally, LS Investment Advisors LLC purchased a new position in Veralto during the 4th quarter valued at about $1,660,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

VLTO traded up $2.34 during mid-day trading on Monday, reaching $91.23. 1,993,915 shares of the company traded hands, compared to its average volume of 1,587,729. The stock has a market capitalization of $22.52 billion and a P/E ratio of 25.48. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The company's fifty day moving average price is $87.83 and its 200-day moving average price is $79.93. Veralto Co. has a 52-week low of $65.51 and a 52-week high of $92.15.

Veralto (NYSE:VLTO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.25 billion. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. On average, sell-side analysts expect that Veralto Co. will post 3.26 EPS for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th. Veralto's dividend payout ratio is currently 10.06%.

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company's stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They set a "buy" rating and a $104.00 price objective on the stock. Citigroup lifted their price objective on Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They set a "hold" rating and a $79.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Veralto from $78.00 to $91.00 and gave the company a "sector perform" rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets began coverage on Veralto in a research report on Tuesday, February 27th. They set an "outperform" rating and a $97.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $93.36.

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.

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