Bragg Financial Advisors Inc Sells 450 Shares of Veralto Co. (NYSE:VLTO)

Bragg Financial Advisors Inc lowered its stake in Veralto Co. (NYSE:VLTO) by 8.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,628 shares of the company’s stock after selling 450 shares during the period. Bragg Financial Advisors Inc’s holdings in Veralto were worth $471,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in Veralto by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. Park Avenue Securities LLC grew its position in shares of Veralto by 18.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock worth $1,755,000 after buying an additional 2,676 shares during the last quarter. Czech National Bank increased its stake in shares of Veralto by 6.5% during the fourth quarter. Czech National Bank now owns 53,622 shares of the company’s stock valued at $5,461,000 after buying an additional 3,284 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Veralto by 15.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 14,115 shares of the company’s stock valued at $1,438,000 after acquiring an additional 1,889 shares in the last quarter. Finally, David Wealth Management LLC purchased a new stake in Veralto in the fourth quarter worth $1,013,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO stock opened at $90.64 on Tuesday. 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 50 day moving average price of $96.63 and a 200-day moving average price of $102.28. Veralto Co. has a 52-week low of $83.87 and a 52-week high of $115.00. The firm has a market capitalization of $22.48 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. Equities research analysts forecast that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed 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. This represents a $0.44 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, March 31st. Veralto’s dividend payout ratio (DPR) is 13.17%.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total value of $1,045,044.90. Following the completion of the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction 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 approximately $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,471 shares of company stock worth $2,234,030. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VLTO shares. Stifel Nicolaus reduced their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reduced their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. 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 report on Monday. Six equities 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 company currently has an average rating of “Hold” and a consensus target price of $111.90.

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.