Veralto Co. (NYSE:VLTO) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its stake in Veralto Co. (NYSE:VLTO) by 34.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,482 shares of the company’s stock after purchasing an additional 16,977 shares during the period. Cerity Partners LLC’s holdings in Veralto were worth $7,437,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock valued at $1,801,000 after buying an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Veralto by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Veralto by 4.5% during the third 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 period. Graypoint LLC lifted its position in shares of Veralto by 2.4% during the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after purchasing an additional 107 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its stake in shares of Veralto by 1.8% in the third quarter. Sentry Investment Management LLC now owns 5,999 shares of the company’s stock valued at $671,000 after purchasing an additional 108 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $102.91, for a total value 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 approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,639 shares of company stock worth $3,175,803. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of NYSE:VLTO opened at $107.97 on Thursday. The company has a market cap of $26.70 billion and a PE ratio of 33.32. Veralto Co. has a fifty-two week low of $72.85 and a fifty-two week high of $115.00. The firm has a 50-day simple moving average of $108.06 and a 200 day simple moving average of $104.70. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 52.85% and a net margin of 15.69%. During the same period in the prior year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, September 27th were issued a dividend of $0.09 per share. 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 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.