Creative Planning Buys 726 Shares of Veralto Co. (NYSE:VLTO)

Creative Planning raised its stake in Veralto Co. (NYSE:VLTO) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,186 shares of the company’s stock after buying an additional 726 shares during the period. Creative Planning’s holdings in Veralto were worth $2,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its position in Veralto by 78.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 80,657 shares of the company’s stock valued at $7,151,000 after purchasing an additional 35,433 shares during the period. Cetera Investment Advisers raised its stake in Veralto by 247.8% during the first quarter. Cetera Investment Advisers now owns 48,428 shares of the company’s stock worth $4,294,000 after buying an additional 34,505 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Veralto by 19.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,101 shares of the company’s stock worth $14,952,000 after buying an additional 27,891 shares during the last quarter. Seven Eight Capital LP acquired a new position in Veralto in the first quarter valued at $1,011,000. Finally, Mediolanum International Funds Ltd bought a new stake in Veralto during the first quarter valued at $2,372,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 of the company’s stock, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,039 shares of company stock valued at $4,310,335. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VLTO shares. BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. UBS Group assumed coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective for the company. TD Cowen boosted their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.27.

Veralto Stock Performance

Shares of VLTO opened at $104.05 on Friday. The stock has a 50 day moving average price of $110.75 and a two-hundred day moving average price of $102.73. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $115.00. The firm has a market capitalization of $25.68 billion and a P/E ratio of 32.62. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 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 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Equities analysts forecast that Veralto Co. will post 3.46 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.09 per share. 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 0.35%. Veralto’s dividend payout ratio (DPR) is currently 11.29%.

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.