Exchange Traded Concepts LLC Purchases 27,830 Shares of Veralto Co. (NYSE:VLTO)

Exchange Traded Concepts LLC grew its position in shares of Veralto Co. (NYSE:VLTO) by 510.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,279 shares of the company’s stock after purchasing an additional 27,830 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Veralto were worth $3,389,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock valued at $431,000 after acquiring an additional 99 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after purchasing an additional 100 shares during the last quarter. Strategic Blueprint LLC grew its holdings in shares of Veralto by 4.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after purchasing an additional 102 shares during the last quarter. Insigneo Advisory Services LLC raised its position in Veralto by 1.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 5,767 shares of the company’s stock worth $645,000 after purchasing an additional 103 shares during the period. Finally, Graypoint LLC lifted its stake in Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

VLTO has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Jefferies Financial Group began coverage on Veralto in a research report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective for the company. BMO Capital Markets raised their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus cut their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.18.

Veralto Trading Down 1.4 %

NYSE:VLTO opened at $101.79 on Friday. Veralto Co. has a 12 month low of $75.05 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 company has a 50-day moving average price of $103.97 and a 200-day moving average price of $106.02. The stock has a market cap of $25.17 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 4.31 and a beta of 1.06.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating 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 analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Veralto Co. will post 3.48 EPS for the current year.

Veralto Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.43%. Veralto’s payout ratio is currently 13.58%.

About Veralto

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.