Reynders McVeigh Capital Management LLC Boosts Stock Holdings in Veralto Co. (NYSE:VLTO)

Reynders McVeigh Capital Management LLC grew its holdings in shares of Veralto Co. (NYSE:VLTO - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,691 shares of the company's stock after purchasing an additional 8,572 shares during the period. Veralto comprises 1.6% of Reynders McVeigh Capital Management LLC's holdings, making the stock its 21st largest holding. Reynders McVeigh Capital Management LLC owned 0.12% of Veralto worth $30,014,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VLTO. Bernard Wealth Management Corp. bought a new position in Veralto in the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in Veralto during the fourth quarter valued at approximately $26,000. BankPlus Trust Department bought a new stake in Veralto during the fourth quarter worth $29,000. Albion Financial Group UT boosted its holdings in shares of Veralto by 2,100.0% in the 4th quarter. Albion Financial Group UT now owns 352 shares of the company's stock valued at $36,000 after purchasing an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Veralto in the 4th quarter valued at $42,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VLTO shares. Royal Bank of Canada reduced their price objective on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus dropped their price objective on shares of Veralto from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Citigroup decreased their target price on shares of Veralto from $116.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $111.10.

Veralto Trading Up 0.3 %

Shares of VLTO stock traded up $0.26 on Friday, hitting $89.59. The company had a trading volume of 1,691,548 shares, compared to its average volume of 1,507,086. The stock's 50-day moving average is $96.07 and its two-hundred day moving average is $101.95. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. The firm has a market cap of $22.22 billion, a P/E ratio of 26.82, a P/E/G ratio of 4.24 and a beta of 0.97. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00.

Veralto (NYSE:VLTO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.49%. Veralto's payout ratio is 13.17%.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $98.56, for a total value of $1,026,403.84. Following the transaction, the chief executive officer now owns 116,637 shares in the company, valued at approximately $11,495,742.72. This represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 590 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $97.05, for a total value of $57,259.50. Following the transaction, the senior vice president now directly owns 10,011 shares in the company, 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 sold 22,471 shares of company stock valued at $2,234,030 over the last 90 days. Company insiders own 0.36% of the company's stock.

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.