F M Investments LLC Takes Position in Veralto Co. (NYSE:VLTO)

F M Investments LLC acquired a new position in Veralto Co. (NYSE:VLTO) in the third quarter, Holdings Channel reports. The fund acquired 12,514 shares of the company’s stock, valued at approximately $1,380,000.

A number of other hedge funds also recently bought and sold shares of VLTO. Allspring Global Investments Holdings LLC lifted its stake in shares of Veralto by 31.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,092 shares of the company’s stock worth $1,427,000 after purchasing an additional 3,820 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Veralto by 5.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 608,241 shares of the company’s stock valued at $53,927,000 after buying an additional 34,097 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Veralto by 15.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,045 shares of the company’s stock worth $270,000 after buying an additional 414 shares during the last quarter. Private Advisor Group LLC lifted its position in Veralto by 7.4% during the first quarter. Private Advisor Group LLC now owns 14,153 shares of the company’s stock valued at $1,255,000 after acquiring an additional 970 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Veralto during the first quarter valued at approximately $233,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the sale, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,286 shares of company stock worth $3,912,305 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Veralto Stock Down 0.6 %

Shares of VLTO opened at $101.59 on Friday. The stock’s 50-day moving average price is $110.01 and its 200-day moving average price is $103.32. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $25.12 billion and a price-to-earnings ratio of 31.35. Veralto Co. has a 52 week low of $66.69 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.75 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, September 27th. Veralto’s payout ratio is currently 11.11%.

Analysts Set New Price Targets

Several analysts have recently commented on VLTO shares. The Goldman Sachs Group increased their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Stifel Nicolaus upped their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their target price on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Hold” and an average price target 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.