Neuberger Berman Group LLC Boosts Stake in Veralto Co. (NYSE:VLTO)

Neuberger Berman Group LLC raised its stake in Veralto Co. (NYSE:VLTO) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,597 shares of the company’s stock after purchasing an additional 112,373 shares during the quarter. Neuberger Berman Group LLC’s holdings in Veralto were worth $78,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VLTO. Nordea Investment Management AB boosted its position in shares of Veralto by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock worth $400,928,000 after buying an additional 1,009,170 shares during the period. Park Avenue Securities LLC boosted its holdings in Veralto by 18.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,228 shares of the company’s stock valued at $1,755,000 after acquiring an additional 2,676 shares during the period. Czech National Bank boosted its holdings in 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 acquiring an additional 3,284 shares during the period. Assenagon Asset Management S.A. raised its position 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 buying an additional 1,889 shares during the last quarter. Finally, David Wealth Management LLC acquired a new position in Veralto in the fourth quarter worth about $1,013,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Up 7.0 %

Shares of VLTO opened at $91.27 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. Veralto Co. has a 1 year low of $83.87 and a 1 year high of $115.00. The company has a 50 day simple moving average of $97.21 and a two-hundred day simple moving average of $102.78. The firm has a market cap of $22.64 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97.

Veralto (NYSE:VLTO) 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 return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts expect that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.48%. Veralto’s dividend payout ratio (DPR) is presently 13.17%.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the sale, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the senior vice president now owns 8,470 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 22,471 shares of company stock worth $2,234,030. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on VLTO shares. Citigroup decreased their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. 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. Jefferies Financial Group initiated coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Finally, 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 note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.50.

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.