Peapack Gladstone Financial Corp Sells 5,339 Shares of Veralto Co. (NYSE:VLTO)

Peapack Gladstone Financial Corp trimmed its holdings in Veralto Co. (NYSE:VLTO - Free Report) by 48.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,640 shares of the company's stock after selling 5,339 shares during the period. Peapack Gladstone Financial Corp's holdings in Veralto were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VLTO. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Veralto in the 4th quarter valued at approximately $2,444,000. Russell Investments Group Ltd. boosted its stake in shares of Veralto by 4.9% in the fourth quarter. Russell Investments Group Ltd. now owns 543,530 shares of the company's stock valued at $55,362,000 after buying an additional 25,522 shares in the last quarter. Aviva PLC grew its holdings in Veralto by 15.9% during the fourth quarter. Aviva PLC now owns 704,790 shares of the company's stock worth $71,783,000 after acquiring an additional 96,453 shares during the period. Cullen Capital Management LLC lifted its stake in shares of Veralto by 43.5% in the fourth quarter. Cullen Capital Management LLC now owns 5,251 shares of the company's stock valued at $535,000 after purchasing an additional 1,593 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in Veralto in the 4th quarter valued at approximately $7,793,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Veralto Stock Performance

Veralto stock traded up $1.09 during mid-day trading on Monday, hitting $90.71. 170,272 shares of the company's stock traded hands, compared to its average volume of 1,511,373. Veralto Co. has a one year low of $83.87 and a one year high of $115.00. The company has a market cap of $22.50 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The firm has a 50 day moving average price of $96.73 and a 200 day moving average price of $102.42. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. On average, equities analysts forecast that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.49%. Veralto's dividend payout ratio (DPR) is presently 13.17%.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $59,206.50. Following the completion of the sale, the senior vice president now directly owns 8,470 shares of the company's stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the company's 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 transaction, the chief executive officer now owns 104,496 shares in the company, valued at $10,486,173.60. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,471 shares of company stock valued at $2,234,030. Company insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Veralto from $111.00 to $110.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price objective on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Citigroup dropped their price objective on Veralto from $118.00 to $116.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.50.

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.