Two Sigma Securities LLC Takes $247,000 Position in Veralto Co. (NYSE:VLTO)

Two Sigma Securities LLC purchased a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,422 shares of the company’s stock, valued at approximately $247,000.

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

Veralto Stock Performance

NYSE:VLTO opened at $93.06 on Wednesday. The company has a market cap of $23.08 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.24 and a beta of 0.97. The firm’s 50 day moving average is $94.80 and its two-hundred day moving average is $100.71. Veralto Co. has a fifty-two week low of $83.87 and a fifty-two week high of $115.00. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

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

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 31st. Veralto’s payout ratio is currently 13.17%.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the completion of the sale, the chief executive officer now directly owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This represents a 8.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 590 shares of the stock in a transaction on Tuesday, April 1st. The shares were 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 owns 10,011 shares of the company’s stock, valued at approximately $971,567.55. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,471 shares of company stock valued at $2,234,030. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup decreased their price objective on Veralto from $116.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada lowered their price target on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on shares of Veralto from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Veralto currently has a consensus rating of “Hold” and a consensus target price of $111.10.

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.