Veralto Co. (NYSE:VLTO) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in shares of Veralto Co. (NYSE:VLTO) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,782 shares of the company’s stock after selling 1,809 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Veralto were worth $9,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. David Wealth Management LLC purchased a new position in shares of Veralto in the 4th quarter valued at about $1,013,000. Elo Mutual Pension Insurance Co increased its holdings in shares of Veralto by 15.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,236 shares of the company’s stock valued at $2,570,000 after acquiring an additional 3,392 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in shares of Veralto in the 4th quarter valued at about $1,446,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Veralto by 4.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,967 shares of the company’s stock valued at $302,000 after acquiring an additional 117 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Veralto by 12.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,376 shares of the company’s stock valued at $10,223,000 after acquiring an additional 11,026 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Veralto Stock Down 0.5%

Veralto stock opened at $100.47 on Tuesday. Veralto Co. has a twelve month low of $83.87 and a twelve month high of $115.00. The stock has a 50 day moving average of $94.82 and a two-hundred day moving average of $99.55. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 4.24 and a beta of 0.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Veralto had a return on equity of 49.29% and a net margin of 16.04%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Veralto Co. will post 3.66 earnings per share for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. Veralto’s payout ratio is 12.57%.

Analyst Ratings Changes

VLTO has been the subject of a number of research analyst reports. Northcoast Research initiated coverage on Veralto in a research report on Tuesday, May 6th. They issued a “buy” rating and a $110.00 target price for the company. Citigroup decreased their target price on Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus upped their target price on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada upped their target price on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, May 1st. Finally, Robert W. Baird upped their target price on Veralto from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.09.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 590 shares of the firm’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 completion of the sale, the senior vice president now directly owns 10,011 shares of the company’s stock, valued at $971,567.55. This trade represents a 5.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Melissa Aquino sold 31,689 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $93.67, for a total value of $2,968,308.63. Following the completion of the sale, the senior vice president now directly owns 17,434 shares of the company’s stock, valued at $1,633,042.78. This represents a 64.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,069 shares of company stock valued at $5,337,767. 0.36% of the stock is owned by company 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.