Cwm LLC Grows Stock Position in Veralto Co. (NYSE:VLTO)

Cwm LLC raised its holdings in Veralto Co. (NYSE:VLTO) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,138 shares of the company’s stock after buying an additional 343 shares during the quarter. Cwm LLC’s holdings in Veralto were worth $687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLTO. Vanguard Group Inc. raised its stake in shares of Veralto by 6.1% in the first quarter. Vanguard Group Inc. now owns 27,429,158 shares of the company’s stock worth $2,431,869,000 after purchasing an additional 1,568,103 shares during the last quarter. Capital International Investors raised its stake in shares of Veralto by 8.5% in the first quarter. Capital International Investors now owns 7,097,130 shares of the company’s stock worth $629,232,000 after purchasing an additional 553,021 shares during the last quarter. Bank of New York Mellon Corp raised its position in Veralto by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 4,178,777 shares of the company’s stock valued at $398,948,000 after acquiring an additional 200,657 shares in the last quarter. Swedbank AB raised its position in Veralto by 4.9% during the second quarter. Swedbank AB now owns 2,814,983 shares of the company’s stock valued at $268,746,000 after acquiring an additional 132,105 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Veralto by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,492,720 shares of the company’s stock valued at $142,510,000 after acquiring an additional 24,246 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Veralto Stock Performance

Shares of Veralto stock opened at $113.60 on Friday. Veralto Co. has a one year low of $65.51 and a one year high of $114.61. The company has a market cap of $28.04 billion and a price-to-earnings ratio of 35.61. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The business’s 50 day moving average price is $110.66 and its 200 day moving average price is $101.97.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts predict that Veralto Co. will post 3.45 EPS for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. Veralto’s dividend payout ratio is currently 11.29%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VLTO. TD Cowen raised their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Stifel Nicolaus raised their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Hold” and a consensus target price of $108.00.

Insider Buying and Selling at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock worth $4,310,335 over the last quarter. 0.31% of the stock is currently owned by company insiders.

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.