Veralto Co. (NYSE:VLTO) Shares Acquired by Quarry LP

Quarry LP raised its position in shares of Veralto Co. (NYSE:VLTO) by 65.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,553 shares of the company’s stock after acquiring an additional 617 shares during the quarter. Quarry LP’s holdings in Veralto were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VLTO. Vanguard Group Inc. acquired a new position in shares of Veralto during the fourth quarter valued at approximately $2,127,330,000. Capital International Investors acquired a new position in shares of Veralto during the fourth quarter valued at approximately $538,324,000. Swedbank AB acquired a new stake in shares of Veralto in the first quarter valued at approximately $237,864,000. Northern Trust Corp increased its holdings in shares of Veralto by 33,575.5% in the fourth quarter. Northern Trust Corp now owns 2,520,275 shares of the company’s stock valued at $207,318,000 after purchasing an additional 2,512,791 shares during the last quarter. Finally, Rudius Management LP increased its holdings in shares of Veralto by 28,658.9% in the fourth quarter. Rudius Management LP now owns 1,723,232 shares of the company’s stock valued at $141,753,000 after purchasing an additional 1,717,240 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The disclosure for this sale can be found here. Insiders sold 25,096 shares of company stock worth $2,772,707 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Veralto Trading Up 1.4 %

VLTO stock opened at $111.86 on Tuesday. The business has a fifty day simple moving average of $108.40 and a 200-day simple moving average of $99.81. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a market cap of $27.64 billion and a price-to-earnings ratio of 33.32.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS. On average, equities research analysts expect that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

Analyst Ratings Changes

VLTO has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. TD Cowen increased their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. BMO Capital Markets increased their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday. Finally, UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.85.

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.