Veralto Co. (NYSE:VLTO) Position Raised by Cerity Partners LLC

Cerity Partners LLC boosted its position in Veralto Co. (NYSE:VLTO) by 34.3% in the third quarter, HoldingsChannel.com reports. The firm owned 66,482 shares of the company’s stock after purchasing an additional 16,977 shares during the quarter. Cerity Partners LLC’s holdings in Veralto were worth $7,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Veralto in the third quarter valued at $25,000. Goodman Advisory Group LLC acquired a new stake in Veralto in the 2nd quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of Veralto during the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its stake in shares of Veralto by 11,100.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Veralto by 692.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 309 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Activity

In other 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 completion of the sale, the senior vice president now owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on 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 directly owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,639 shares of company stock worth $3,175,803 in the last three months. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada upped their price objective 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.27.

Veralto Stock Up 0.0 %

Veralto stock opened at $107.97 on Thursday. Veralto Co. has a twelve month low of $72.85 and a twelve month 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 has a market cap of $26.70 billion and a PE ratio of 33.32. The firm’s 50 day moving average price is $108.06 and its two-hundred day moving average price is $104.70.

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

Veralto Announces Dividend

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