GAMMA Investing LLC Has $429,000 Holdings in Veralto Co. (NYSE:VLTO)

GAMMA Investing LLC boosted its stake in Veralto Co. (NYSE:VLTO) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,216 shares of the company’s stock after purchasing an additional 263 shares during the period. GAMMA Investing LLC’s holdings in Veralto were worth $429,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VLTO. Versant Capital Management Inc lifted its position in shares of Veralto by 140.1% in the 4th quarter. Versant Capital Management Inc now owns 437 shares of the company’s stock worth $45,000 after purchasing an additional 255 shares during the period. JPMorgan Chase & Co. lifted its holdings in Veralto by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 2,448,648 shares of the company’s stock valued at $273,906,000 after buying an additional 314,412 shares during the period. Principal Financial Group Inc. boosted its position in Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock valued at $125,608,000 after acquiring an additional 757,389 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Veralto by 12.7% during the 3rd quarter. Retirement Systems of Alabama now owns 54,633 shares of the company’s stock worth $6,111,000 after acquiring an additional 6,170 shares during the period. Finally, Tidal Investments LLC grew its holdings in Veralto by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 16,534 shares of the company’s stock worth $1,849,000 after acquiring an additional 1,832 shares during the period. 91.28% of the stock is owned by institutional investors.

Veralto Price Performance

VLTO stock opened at $100.80 on Monday. The company has a market capitalization of $24.93 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 4.30 and a beta of 1.06. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The business has a 50-day simple moving average of $104.35 and a two-hundred day simple moving average of $105.56. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. Research analysts expect that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.11 per share. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

Analyst Ratings Changes

VLTO has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus dropped their target price on shares of Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares in the company, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

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.