WealthPlan Investment Management LLC Invests $2.95 Million in Veralto Co. (NYSE:VLTO)

WealthPlan Investment Management LLC purchased a new position in Veralto Co. (NYSE:VLTO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 26,362 shares of the company’s stock, valued at approximately $2,949,000.

Several other hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in shares of Veralto during the 2nd quarter worth about $26,000. LRI Investments LLC bought a new stake in shares of Veralto during the 1st quarter worth about $30,000. Fairscale Capital LLC bought a new stake in shares of Veralto during the 2nd quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. boosted 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 purchasing an additional 333 shares during the period. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $102.91, for a total value of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Honeycutt sold 13,190 shares of Veralto stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,260,841.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,038 shares of company stock valued at $3,989,693. 0.31% of the stock is owned by insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $104.39 on Tuesday. The company has a market capitalization of $25.82 billion and a PE ratio of 32.22. Veralto Co. has a 12 month low of $70.06 and a 12 month high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $109.24 and its 200 day simple moving average is $103.86.

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

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, September 27th. Veralto’s dividend payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several recent research reports. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird upped their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus increased their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, 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.