Shell Asset Management Co. Increases Stake in Veralto Co. (NYSE:VLTO)

Shell Asset Management Co. lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 81.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,710 shares of the company’s stock after purchasing an additional 3,458 shares during the period. Shell Asset Management Co.’s holdings in Veralto were worth $785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Veralto in the fourth quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $26,000. BankPlus Trust Department acquired a new stake in shares of Veralto during the 4th quarter worth approximately $29,000. Albion Financial Group UT raised its position in shares of Veralto by 2,100.0% during the 4th quarter. Albion Financial Group UT now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new position in Veralto in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Up 0.7%

Shares of NYSE:VLTO opened at $101.67 on Friday. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The firm’s 50 day moving average price is $94.40 and its 200 day moving average price is $99.66. 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 stock has a market cap of $25.20 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

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

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.11 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. Veralto’s payout ratio is currently 12.57%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This represents a 6.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lesley Beneteau sold 458 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $100.84, for a total transaction of $46,184.72. Following the sale, the senior vice president now owns 13,571 shares of the company’s stock, valued at $1,368,499.64. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,073 shares of company stock valued at $6,442,018. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VLTO shares. Royal Bank of Canada upped their price target on Veralto from $103.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Veralto from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Northcoast Research began 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. Robert W. Baird increased their price target on shares of Veralto from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of Veralto from $116.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $110.09.

Veralto 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.