Fiduciary Trust Co Has $1.32 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Fiduciary Trust Co increased its position in shares of Veralto Co. (NYSE:VLTO) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,809 shares of the company’s stock after buying an additional 1,140 shares during the quarter. Fiduciary Trust Co’s holdings in Veralto were worth $1,321,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages recently weighed in on VLTO. Stifel Nicolaus raised their price target on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, UBS Group started coverage on shares of Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Veralto presently has an average rating of “Hold” and a consensus target price of $108.27.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was 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 owns 138,546 shares in the company, valued at $15,260,841.90. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total transaction of $83,658.30. Following the completion of the sale, the senior vice president now owns 11,918 shares of the company’s stock, valued at approximately $1,324,089.80. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,448 shares of company stock valued at $1,698,675 over the last three months. 0.31% of the stock is owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO opened at $108.22 on Friday. Veralto Co. has a 52-week low of $73.91 and a 52-week high of $115.00. The stock’s 50-day simple moving average is $108.00 and its 200 day simple moving average is $104.81. 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 stock has a market capitalization of $26.76 billion and a price-to-earnings ratio of 33.40.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.69% and a return on equity of 52.85%. The business’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 company posted $0.75 EPS. Research analysts forecast that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, September 27th. Veralto’s dividend payout ratio (DPR) is 11.11%.

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.