Walter Public Investments Inc. Cuts Stock Position in Veralto Co. (NYSE:VLTO)

Walter Public Investments Inc. lessened its holdings in Veralto Co. (NYSE:VLTO) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,680 shares of the company’s stock after selling 11,891 shares during the quarter. Veralto accounts for 2.3% of Walter Public Investments Inc.’s investment portfolio, making the stock its 25th largest position. Walter Public Investments Inc.’s holdings in Veralto were worth $13,276,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Goodman Advisory Group LLC purchased a new position in shares of Veralto in the second quarter valued at $26,000. Fairscale Capital LLC bought a new stake in shares of Veralto during the second quarter valued at about $30,000. LRI Investments LLC purchased a new stake in shares of Veralto in the first quarter worth about $30,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Veralto by 11,100.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after buying an additional 333 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Veralto in the fourth quarter valued at approximately $32,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Veralto Trading Down 0.3 %

Veralto stock opened at $112.52 on Thursday. Veralto Co. has a 12-month low of $65.51 and a 12-month high of $114.61. The firm has a market capitalization of $27.78 billion and a price-to-earnings ratio of 35.27. The firm has a 50 day moving average of $110.39 and a 200 day moving average of $101.71. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Veralto Co. will post 3.45 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.32%. Veralto’s payout ratio is 11.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on VLTO shares. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Stifel Nicolaus raised their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird upped their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of “Hold” and a consensus target price of $108.00.

Insider Transactions at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s 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 transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock valued at $4,310,335 over the last 90 days. 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.