PFG Investments LLC Acquires Shares of 4,689 Veralto Co. (NYSE:VLTO)

PFG Investments LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,689 shares of the company’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLTO. Forsta AP Fonden raised its holdings in Veralto by 12.7% during the 3rd quarter. Forsta AP Fonden now owns 54,108 shares of the company’s stock worth $6,053,000 after purchasing an additional 6,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Veralto by 29.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,402 shares of the company’s stock worth $2,581,000 after buying an additional 5,284 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Veralto by 12.1% during the third quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the company’s stock worth $1,555,000 after buying an additional 1,500 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Veralto in the third quarter valued at approximately $8,995,000. Finally, Lake Street Advisors Group LLC boosted its stake in Veralto by 11.2% in the third quarter. Lake Street Advisors Group LLC now owns 2,894 shares of the company’s stock valued at $324,000 after acquiring an additional 291 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on VLTO. Robert W. Baird upped their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus increased their target price on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen lifted their price objective on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $108.27.

Veralto Trading Down 0.0 %

Shares of NYSE:VLTO opened at $104.00 on Tuesday. The firm has a market cap of $25.67 billion and a price-to-earnings ratio of 32.10. Veralto Co. has a 12 month low of $66.69 and a 12 month high of $115.00. The company’s fifty day simple moving average is $110.64 and its 200 day simple moving average is $103.05. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. As a group, research analysts forecast that Veralto Co. will post 3.47 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid 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 0.35%. Veralto’s dividend payout ratio is currently 11.11%.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Surekha Trivedi sold 7,399 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $110.00, for a total value of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,039 shares of company stock worth $3,992,665 over the last ninety days. Insiders own 0.31% of the company’s stock.

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.