Proficio Capital Partners LLC Buys Shares of 83,619 Veralto Co. (NYSE:VLTO)

Proficio Capital Partners LLC purchased a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 83,619 shares of the company’s stock, valued at approximately $84,000.

Several other large investors also recently added to or reduced their stakes in VLTO. Assetmark Inc. boosted its holdings in shares of Veralto by 10.3% in the third quarter. Assetmark Inc. now owns 18,920 shares of the company’s stock worth $2,116,000 after acquiring an additional 1,768 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Veralto by 2.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 12,900 shares of the company’s stock worth $1,443,000 after purchasing an additional 261 shares during the period. Los Angeles Capital Management LLC grew its holdings in Veralto by 24.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,787 shares of the company’s stock valued at $759,000 after buying an additional 1,350 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Veralto during the third quarter valued at about $25,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Veralto by 15.3% in the third quarter. Apollon Wealth Management LLC now owns 7,479 shares of the company’s stock worth $837,000 after buying an additional 995 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Stock Up 0.2 %

Shares of Veralto stock opened at $95.61 on Friday. The company’s fifty day simple moving average is $100.33 and its two-hundred day simple moving average is $105.00. Veralto Co. has a 12-month low of $85.90 and a 12-month high of $115.00. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The company has a market cap of $23.67 billion, a P/E ratio of 28.62, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Research analysts anticipate that Veralto Co. will post 3.66 EPS for the current year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 annualized dividend and a yield of 0.46%. Veralto’s payout ratio is 13.17%.

Insiders Place Their Bets

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the sale, the chief executive officer now owns 104,496 shares of the company’s stock, valued at $10,486,173.60. The trade was a 9.06 % 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, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the completion of the sale, the senior vice president now owns 8,470 shares in the company, valued at approximately $849,964.50. This trade represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,467 shares of company stock worth $1,150,366. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on VLTO shares. Citigroup lowered their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada dropped their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.50.

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.