Axiom Advisory LLC Has $670,000 Position in Veralto Co. (NYSE:VLTO)

Axiom Advisory LLC lifted its position in Veralto Co. (NYSE:VLTO) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,336 shares of the company’s stock after acquiring an additional 179 shares during the period. Axiom Advisory LLC’s holdings in Veralto were worth $670,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Mather Group LLC. increased its stake in Veralto by 55.8% in the third quarter. Mather Group LLC. now owns 888 shares of the company’s stock valued at $99,000 after purchasing an additional 318 shares in the last quarter. Value Partners Investments Inc. boosted its position in shares of Veralto by 68.1% during the third quarter. Value Partners Investments Inc. now owns 2,736 shares of the company’s stock worth $306,000 after purchasing an additional 1,108 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Veralto by 26.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,953 shares of the company’s stock valued at $442,000 after buying an additional 820 shares during the period. Czech National Bank increased its position in shares of Veralto by 20.2% in the 3rd quarter. Czech National Bank now owns 50,338 shares of the company’s stock valued at $5,631,000 after buying an additional 8,474 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Veralto by 30.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 56,400 shares of the company’s stock worth $6,309,000 after buying an additional 13,200 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Veralto Price Performance

Shares of NYSE VLTO opened at $112.18 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The business has a 50-day moving average of $109.33 and a 200-day moving average of $100.64. The stock has a market capitalization of $27.69 billion and a price-to-earnings ratio of 33.63. Veralto Co. has a fifty-two week low of $65.51 and a fifty-two week high of $112.77.

Veralto (NYSE:VLTO) last posted its quarterly earnings results 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. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Veralto Co. will post 3.45 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Stifel Nicolaus increased their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Veralto has a consensus rating of “Hold” and an average price target of $105.67.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’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 value of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock worth $4,310,335 over the last quarter. 0.31% of the stock is currently owned by 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.