Ashton Thomas Private Wealth LLC Takes Position in Veralto Co. (NYSE:VLTO)

Ashton Thomas Private Wealth LLC purchased a new stake in Veralto Co. (NYSE:VLTO) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 896 shares of the company’s stock, valued at approximately $86,000.

Other large investors have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Veralto in the 1st quarter valued at about $30,000. Delta Asset Management LLC TN grew its stake in Veralto by 216.0% in the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after acquiring an additional 216 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Veralto in the 4th quarter valued at about $27,000. Cassady Schiller Wealth Management LLC acquired a new stake in Veralto in the 4th quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Veralto in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VLTO. Robert W. Baird increased their price objective 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. Stifel Nicolaus increased their price objective on shares of Veralto from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.46.

Veralto Price Performance

VLTO opened at $110.02 on Friday. The company’s 50 day simple moving average is $105.66 and its 200 day simple moving average is $98.05. 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 Co. has a 1 year low of $65.51 and a 1 year high of $112.77. The stock has a market capitalization of $27.19 billion and a PE ratio of 33.02.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Veralto Co. will post 3.45 EPS for the current year.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now owns 11,918 shares in the company, valued at $1,324,089.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the transaction, the senior vice president now directly owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,096 shares of company stock worth $2,772,707. Company insiders own 0.31% of the company’s stock.

Veralto Company 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.