AE Wealth Management LLC Buys Shares of 2,118 Veralto Co. (NYSE:VLTO)

AE Wealth Management LLC purchased a new position in Veralto Co. (NYSE:VLTO) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,118 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LRI Investments LLC acquired a new stake in Veralto in the first quarter worth approximately $30,000. Newbridge Financial Services Group Inc. bought a new position in Veralto during the fourth quarter valued at about $32,000. Hazlett Burt & Watson Inc. grew its holdings in Veralto by 11,100.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 336 shares of the company’s stock worth $32,000 after acquiring an additional 333 shares during the period. Mather Group LLC. bought a new stake in Veralto in the first quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new stake in Veralto in the 2nd quarter valued at about $43,000. 91.28% of the stock is currently owned by institutional investors.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mattias Bystrom sold 3,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096 shares of company stock valued at $2,772,707. 0.31% of the stock is owned by corporate insiders.

Veralto Stock Performance

Shares of VLTO opened at $110.30 on Friday. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The company has a market capitalization of $27.23 billion and a PE ratio of 29.65. The company’s 50 day moving average price is $108.15 and its 200 day moving average price is $99.50.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Research analysts expect that Veralto Co. will post 3.45 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.33%. Veralto’s dividend payout ratio is 9.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VLTO. Stifel Nicolaus lifted their price objective on shares of Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. TD Cowen upped their price target on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Finally, Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

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.