Wealth Enhancement Advisory Services LLC Has $2.66 Million Holdings in Veralto Co. (NYSE:VLTO)

Wealth Enhancement Advisory Services LLC trimmed its stake in Veralto Co. (NYSE:VLTO) by 38.6% during the first quarter, HoldingsChannel.com reports. The fund owned 29,949 shares of the company’s stock after selling 18,864 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Veralto were worth $2,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Corundum Group Inc. bought a new stake in shares of Veralto in the 1st quarter worth about $223,000. Brookstone Capital Management raised its stake in shares of Veralto by 36.4% in the first quarter. Brookstone Capital Management now owns 3,559 shares of the company’s stock valued at $316,000 after acquiring an additional 949 shares during the last quarter. Factory Mutual Insurance Co. boosted its holdings in shares of Veralto by 27.4% in the 1st quarter. Factory Mutual Insurance Co. now owns 143,365 shares of the company’s stock worth $12,711,000 after acquiring an additional 30,800 shares in the last quarter. Perkins Coie Trust Co grew its position in Veralto by 2.7% during the 1st quarter. Perkins Coie Trust Co now owns 6,977 shares of the company’s stock worth $618,000 after acquiring an additional 185 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Veralto during the 1st quarter valued at $1,071,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on VLTO. Robert W. Baird boosted their price objective on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. TD Cowen initiated coverage on shares of Veralto in a research report on Monday, June 17th. They issued a “hold” rating and a $95.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, BNP Paribas initiated coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Insider Transactions at Veralto

In related news, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares in the company, valued at $3,417,437.10. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Veralto Price Performance

Shares of Veralto stock opened at $95.21 on Thursday. The business has a fifty day simple moving average of $98.24 and a 200 day simple moving average of $88.98. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto Co. has a 12 month low of $65.51 and a 12 month high of $102.58.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts predict that Veralto Co. will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.38%.

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.