Empowered Funds LLC Boosts Holdings in Veralto Co. (NYSE:VLTO)

Empowered Funds LLC lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,478 shares of the company’s stock after purchasing an additional 172 shares during the period. Empowered Funds LLC’s holdings in Veralto were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Veralto in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC purchased a new position in shares of Veralto in the second quarter worth about $26,000. LRI Investments LLC purchased a new position in shares of Veralto in the first quarter worth about $30,000. Fairscale Capital LLC acquired a new position in Veralto during the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Veralto by 11,100.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 333 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $108.48 on Tuesday. Veralto Co. has a one year low of $72.85 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm’s 50 day moving average price is $108.08 and its 200-day moving average price is $104.59. The firm has a market cap of $26.83 billion and a P/E ratio of 33.48.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. As a group, equities research analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.33%. Veralto’s dividend payout ratio (DPR) is presently 11.11%.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the sale, the senior vice president now owns 11,165 shares in the company, valued at $1,256,620.75. This represents a 6.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,639 shares of company stock valued at $3,175,803. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.27.

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.