Brookstone Capital Management Lowers Position in Veralto Co. (NYSE:VLTO)

Brookstone Capital Management lessened its stake in Veralto Co. (NYSE:VLTO) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,056 shares of the company’s stock after selling 184 shares during the period. Brookstone Capital Management’s holdings in Veralto were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VLTO. Ashton Thomas Securities LLC purchased a new position in shares of Veralto during the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto during the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto during the 2nd quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its position in shares of Veralto by 692.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Veralto during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VLTO shares. Royal Bank of Canada increased their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets increased 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. Jefferies Financial Group began coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. Citigroup reduced their price objective on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus reduced their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.27.

Veralto Stock Down 1.0 %

Shares of VLTO opened at $102.98 on Friday. Veralto Co. has a 52-week low of $75.03 and a 52-week high of $115.00. The company has a market capitalization of $25.47 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The stock has a fifty day simple moving average of $104.07 and a two-hundred day simple moving average of $105.84. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

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 analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. As a group, equities analysts forecast that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is an increase from Veralto’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, December 31st. Veralto’s dividend payout ratio (DPR) is presently 13.58%.

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.