Private Advisor Group LLC Increases Stock Holdings in Veralto Co. (NYSE:VLTO)

Private Advisor Group LLC lifted its position in Veralto Co. (NYSE:VLTO) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,282 shares of the company’s stock after buying an additional 141 shares during the quarter. Private Advisor Group LLC’s holdings in Veralto were worth $1,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CPA Asset Management LLC purchased a new stake in shares of Veralto in the third quarter worth about $226,000. Eastern Bank purchased a new stake in shares of Veralto in the third quarter worth about $8,900,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Veralto by 4.1% in the third quarter. Sequoia Financial Advisors LLC now owns 5,626 shares of the company’s stock worth $629,000 after buying an additional 220 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in Veralto by 692.3% in the third quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Finally, Community Financial Services Group LLC raised its stake in Veralto by 1.3% in the third quarter. Community Financial Services Group LLC now owns 49,581 shares of the company’s stock valued at $5,546,000 after purchasing an additional 625 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veralto

In related news, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Surekha Trivedi sold 7,399 shares of Veralto stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction 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 approximately $15,260,841.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,286 shares of company stock worth $3,912,305. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

VLTO has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird raised their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. UBS Group initiated coverage on shares of Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Down 0.2 %

Shares of Veralto stock opened at $103.24 on Thursday. 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 Co. has a 52-week low of $66.69 and a 52-week high of $115.00. The stock has a market capitalization of $25.48 billion and a price-to-earnings ratio of 31.86. The company’s 50 day moving average price is $110.39 and its 200-day moving average price is $103.16.

Veralto (NYSE:VLTO) last issued its 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. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Veralto Co. will post 3.47 EPS for the current year.

Veralto Announces Dividend

The company also recently announced 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 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio is 11.11%.

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.