Veralto Co. (NYSE:VLTO) Shares Purchased by Quarry LP

Quarry LP boosted its position in Veralto Co. (NYSE:VLTO) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,841 shares of the company’s stock after purchasing an additional 288 shares during the quarter. Quarry LP’s holdings in Veralto were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Veralto during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new stake in Veralto in the 2nd quarter valued at $26,000. Fairscale Capital LLC purchased a new position in shares of Veralto during the 2nd quarter worth $30,000. Hazlett Burt & Watson Inc. boosted its position in shares of 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 acquiring an additional 333 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings 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 purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

VLTO stock opened at $105.31 on Friday. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 4.43 and a beta of 0.91. Veralto Co. has a fifty-two week low of $73.91 and a fifty-two week high of $115.00. 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 business has a 50 day moving average price of $107.66 and a 200 day moving average price of $105.04.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating 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 firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Veralto Co. will post 3.48 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of the 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 completion of the transaction, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,695 shares of company stock valued at $1,615,017 over the last ninety days. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.